The Federal Aviation Administration has issued a statement about its $1.1 trillion debt relief package, saying it will help American airlines, American travelers, American companies and American workers.
The Federal Aviation Administrator has announced a $1 trillion credit line to help airlines and airlines companies, including the nation’s largest airline, Delta, with debt relief.
The FAA said the $1 billion in relief is part of a plan that will help the airline industry and American consumers.
The agency said the credit line will provide airline companies and their customers with the opportunity to refinance up to $200 billion of debt through a new revolving line of credit to be used by airline companies to refocus on the long-term future of their operations and operations capabilities.
The money will help support the company’s ability to continue to operate safely and reliably and to make strategic decisions to focus on operational performance, the FAA said.
American Airlines, Delta and other airlines in the industry are expected to use the credit to refit their aircraft and reduce operating expenses.