US airlines seek US$50bil coronavirus bailout to avoid collapse

Boeing Co is also seeking short-term assistance, for itself, as well as plane suppliers and for the entire aviation sector, a person briefed on the matter said

WASHINGTON: Major U.S. airlines sought a government bailout of more than US$50 billion as the White House is urgently drafting a financial assistance package in the wake of the steep falloff in U.S. travel demand sparked by the coronavirus pandemic.

A trade association warned that without action airlines could run out of money by year-end - and even sooner if credit card companies started withholding payments. Without action soon, airlines and others in the sector could furlough tens of thousands of workers.