March 25, 2020, Washington, DC – The Regional Airline Association today released a statement applauding the Senate’s unanimous passage of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a $2 trillion stimulus bill that provides vital financial assistance to help the airline industry overcome the staggering impacts of COVID-19.
Following the COVID-19 pullback in air travel demand, regional airline schedules were dramatically cut, resulting a sudden and staggering drop in revenue. A near term infusion of payroll grants and guaranteed loans will help avoid furloughs and empower regional airlines to maintain the “ready status” needed to immediately bring air service back up as our economy recovers.
“After a week of continual negotiations, lawmakers, staff, and the Administration worked tirelessly and ultimately overcame ideological differences to build a bridge of support for the airline workforce at carriers large and small,” RAA President CEO Faye Malarkey Black stated. “Air service by regional airlines provides an economic and cultural lifeline to communities with no other air service options,” Black continued. “We are grateful that policymakers protected our workforce so we can continue connecting passengers from communities of all sizes to the air transportation network.”
RAA urges the House to quickly pass this bill and send it to the President for his signature. RAA will work closely with the Secretary of Treasury to ensure that the direct financial assistance is implemented in a manner regional airlines can access, in order to support the people who work for the regional airline industry and serve the nation’s smallest communities.
The Regional Airline Association (RAA) provides a unified voice of advocacy for North American regional airlines aimed at promoting a safe, reliable and strong regional airline industry. RAA serves as an important support network connecting regional airlines and industry business partners. In the United States, regional airlines operate 41% of scheduled passenger flights and provide the only source of scheduled air service to 63% of the nation’s airports.