Aviation Legislation: the CARES Act
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As the country reels from the COVID-19 Pandemic the effects continue to create havoc on an economy which was pounding forward on all cylinders just a few months ago. Perhaps nowhere has the economic damage been felt more than the aviation industry. United Airlines management gave a startlingly honest review of the situation in a letter to employees, describing a 97% decrease in passengers for the first two weeks of April compared to the same period in 2019. United expects a 90% drop in passenger count this May compared to May of last (United, 2020). (Dozens of United Aircraft sit parked at Denver International as demand plummets) In response to the turmoil of the commercial and corporate business aviation world, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act in late March, almost unanimously (NBAA, 2020). The CARES Act provides unprecedented support to airlines and business aircraft operators to help pay employees through grants and loans, as ...