Most smaller air carriers and charters are breathing a sigh of relief with the federal government’s modification of the Coronavirus Aid, Relief, and Economic Security (CARES) Act that absolves them of providing financial security to the government. The Payroll Support Program in the CARES Act eliminates the requirement to provide “financial instruments” to the feds to qualify for grants if their payroll assistance is less than $100 million. The first version of the act was tailored for airlines and was structured to ensure that the money flowed to the workforce but it didn’t work for many smaller carriers because of their financial and operational structure. NBAA, the National Air Transportation Association and the Regional Air Cargo Carriers Association all sounded the alarm and the Department of Transportation made the adjustments.
This is a companion discussion topic for the original entry at https://www.avweb.com/aviation-news/small-carriers-charters-get-easier-payroll-relief