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Private-jet companies could get billions in aid from coronavirus bailout

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A Bombardier Inc. Learjet 40 XR aircraft, right, sits parked at Million Air in White Plains, New York, U.S.

Paul Taggart | Bloomberg | Getty Images

Private-jet companies could receive billions of dollars in loans, aid and tax relief from the federal government as part of the $2 trillion coronavirus aid package.

Under the bill, private-jet charter companies and jet-card companies will receive several types of help from the federal government. First, private-jet companies will no longer have to pay a 7.5% tax to customers. The tax, known as Federal Excise Tax, is charged to customers of private-jet charters and jet-card users. The tax won’t be charged for the rest of the year. Jet companies…



Source cnbc.com

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