CARES Act - What It Means For The Aviation Industry And You?
Last week the CARES Act has been passed by the American Federal Government. The " CARES" stands for "Coronavirus Aid, Relief, and Economic Security" and the Government strives to do exactly that - help all Americans in these uncertain times. The CARES Act provides direct government assistance to all Americans and American businesses. But what does this act mean for the aviation industry and you as a customer?
The tax removes FET (Federal Excise Tax) from private jet prices until the end of 2020. All domestic and international flights 225 miles away from the border are subject to this tax exemption. This means that private jet charter flights to Mexico and Canada also fall under this act.
So now is the best time to plan and book your trip for the future - with prices already low and now the 7,5 % FET being subtracted you can fly private for a lot less! You can request a quote for your trip here.
The CARES act also provides $29 billion in loans for the commercial and cargo airlines. So, although the aviation industry has suffered a lot due to the COVID-19 situation, we maintain a positive outlook into the future.
