Congress Is Said Near Accord on $61 Billion Bailout for Aviation Sector

The aid plan, which includes $25 billion in payroll grants for airlines, would be part of the $2 trillion fiscal stimulus package.
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Congressional negotiators are reportedly close to reaching an accord for a $61 billion bailout of the aviation sector as part of a $2 trillion stimulus fiscal stimulus package that's near completion.

The aviation-aid plan includes $25 billion in payroll grants for passenger airlines, which have seen passenger traffic plunge thanks to the coronavirus, three sources told Reuters.

They said the package will also likely contain $29 billion in loans, $4 billion in grants for cargo carriers and $3 billion for contractors, such as caterers. 

Last week the airlines requested $50 billion in assistance from the government.

Congressional leaders and the Trump administration have expressed optimism that on Tuesday they will agree on the broad fiscal stimulus package.

Airlines have said that without grants, they will have to jettison hundreds of thousands of workers amid the collapse in travel demand that has accompanied the coronavirus pandemic.

U.S. airlines ponder complete shutdown of commercial flights.