The North American aviation industry will see a considerable growth of 4.2% during the forecast period. Airlines and airport managing companies are seeking bailout packages from the government. On March 16, 2020, Airlines for America, an industry trade organization that advocates for major US airlines asked for $50 billion in assistance from the federal government through $25 billion in grants, $25 billion in low-interest loans, and significant tax relief (which includes a $4 billion return for taxes they’ve previously paid). The US government agreed a $25 billion bailout for the beleaguered airline industry.
Browse the full report description of "North American Aviation Market Size, Share & Trends Analysis Report by Type (Passenger Airlines, Cargo Airlines, Aircraft Manufacturing, Airport Management, and Catering & Other Services), Impact of COVID-19 on North American Aviation Industry, and Forecast 2019-2025" at https://www.omrglobal.com/industry-reports/north-american-aviation-market
Passenger airline companies are receiving direct aid as part of the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (Cares Act) economic relief package to allow them to continue paying salaries and benefits to employees during the COVID-19 pandemic. American Airlines has accessed funding as part of the US CARES Act. It will receive $5.8 billion from the Payroll Support Program (PSP) to support staff salaries and benefits, which comes in two forms- a direct grant of $4.1 billion, and a low-interest rate loan of $1.7 billion. In addition to the $5.8 billion, American expects to separately apply for a loan from the US Treasury of around $4.75 billion. While Delta Airlines will receive $5.4 billion from the PSP- a direct grant of $4.1 billion, and a low-interest rate loan of $1.6 billion.
Market Coverage
|
Report Elements |
Details |
|
Study Period |
2018-2025 |
|
Base year |
2018 |
|
Forecast period |
2019-2025 |
|
Segments Covered |
By Type |
|
Countries Covered |
US and Canada |
|
Key Companies Profiled |
American Airlines Group
Inc., Delta Air Lines, Inc., The Boeing Co., Air Canada, and United Airlines,
Inc. |
Key questions addressed by the report
o Recovery Timeline
o Deviation from pre-COVID-19
o Most affected region/segment
o Recommendations
North American Aviation Market – Segmentation
By Type
North American Aviation Market – Segmentation by Geography