US airlines get another $9.5 billion in federal payroll support

US airlines get another $9.5 billion in federal payroll support
© Getty

The Treasury Department has distributed an additional $9.5 billion to U.S. airlines through the Payroll Support Program (PSP), raising the total the industry has received in stimulus funds to $12.4 billion.

The extra funds, which have been disbursed in the last several days, were sent to eight major airlines and 29 smaller passenger air carriers. A total of 93 air carriers have received money so far under the $2.2 trillion relief package signed into law this month, and payments will continue to be made to approved applicants “on a rolling basis,” the Treasury Department said.

“The financial assistance the Treasury Department is providing under Title IV of the [Coronavirus Aid, Relief and Economic Security] Act is essential to help American workers, preserve our aviation industry, and assist businesses that are critical to maintaining national security,” said Treasury Secretary Steven MnuchinSteven MnuchinDemocrats justified in filibustering GOP, says Schumer Yellen provides signature for paper currency Biden's name will not appear on stimulus checks, White House says MORE. “Treasury is fully committed to delivering relief to the American people and supporting the economy.”

The money sent to the airlines and other industries is meant to be used to cover employee wages, salaries and benefits.

The airline industry has been hit particularly hard by the coronavirus outbreak, which has ravaged the economy and forced millions of Americans to file for unemployment.