Caring for Aviation The CARES Act, A Watershed Moment
The Coronavirus Air, Relief and Economic Security (CARES) Act signed on the 27th March provides an unprecedented level of support to the US aviation industry in these most challenging of times.
It also perhaps puts down a marker on how much support other Governments will need to provide to both keep their own aviation sectors alive but perhaps more importantly maintain a competitive playing field for the industry post COVID-19.
In normal times aviation contributes some US$2.7 trillion to global GDP, that is around 3.6% of total production, if aviation were a country then it would rank 20th[1], just behind Turkey and ahead of Switzerland. There are few industries of such importance, particularly now with the movement of urgent cargo supplies and in the future recovery of the global economy.
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