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6/11/2020 Treasury Implementing CARES Act Programs for Aviation and National Security Industries | U.S. Department of the Treasury Treasury Implementing CARES Act Programs for Aviation and National Security Industries April 25, 2020 WASHINGTON – Today, the U.S. Department of the Treasury made a number of important announcements on payroll support and loan programs implemented under Title IV of the CARES Act. Since announcing the first Payroll Support Program payments to passenger air carriers on April 20, Treasury has disbursed an addi onal $9.5 billion in ini al payments to approved applicants, including an addi onal 8 major airlines and 29 smaller passenger air carriers. To date, Treasury has made $12.4 billion in ini al payments to 93 air carriers and will con nue to make addi onal payments on a rolling basis. All funds provided under the Payroll Support Program can only be used for employee wages, salaries, and benefits. Treasury is also announcing certain details of the Payroll Support Program for cargo air carriers and contractors. In consulta on with the Secretary of Transporta on, Secretary Steven T. Mnuchin determined that cargo air carriers that receive $50 million or less of payroll support and contractors that receive $37.5 million or less of payroll support will not be required to provide financial instruments as appropriate compensa on for the financial assistance. The majority of cargo air carriers and contractors seek less than $10 million. In addi on, Treasury published the applica on form for loans to businesses cri cal to maintaining na onal security under Division A, Title IV, Sub tle A of the CARES Act. Applica ons may be submi ed online beginning April 27 and are due to the Treasury Department by May 1. Addi onal informa on on loans to na onal security businesses is available online here . “The financial assistance the Treasury Department is providing under Title IV of the CARES Act is essen al to help American workers, preserve our avia on industry, and assist businesses that are cri cal to maintaining na onal security,” said Secretary Mnuchin. “Treasury is fully commi ed to delivering relief to the American people and suppor ng the economy.” https://home.treasury.gov/news/press-releases/treasury-implementing-cares-act-programs-for-aviation-and-national-security-industries 1/2 6/11/2020 Treasury Implementing CARES Act Programs for Aviation and National Security Industries | U.S. Department of the Treasury For more informa on and Treasury Department updates on program implementa on under the CARES Act, visit www.Treasury.gov/CARES. #### https://home.treasury.gov/news/press-releases/treasury-implementing-cares-act-programs-for-aviation-and-national-security-industries 2/2
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