U.S. Senate bill set to give aviation sector up to $33 billion bailout - sources

A compromise $2 trillion economic rescue package that will be voted on by the U.S. Senate on Wednesday is set to give passenger airlines about $25 billion in grants, and up to another $8 billion for cargo carriers and airport contractors, three people briefed on the negotiations said. Reuters reported that a deal for cash grants for payroll and other airline employee costs was near on Tuesday, after airlines made a last-minute effort to convince lawmakers they needed the cash to prevent the layoffs of tens of thousands of workers.

The aid package is also expected to include another $29 billion in loans for airlines, and the government could receive equity, warrants or other compensation as part of the rescue package. U.S. airports are set to receive $10 billion in grants under the agreement. The final text is still being drafted.