Airline and National Security Relief Programs

Payroll Support Program

Under the Payroll Support Program (PSP), the Treasury Department awarded $59 billion in three rounds of financial assistance (PSP1, PSP2, and PSP3) to the domestic aviation industry for the continued payment of employee wages, salaries, and benefits.

  • PSP1 was authorized by the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
  • PSP2 was authorized by the Consolidated Appropriations Act, 2021.
  • PSP3 was authorized by the American Rescue Plan (ARP) Act of 2021.

As of May 2024, the Treasury Department has completed closeout activities for approximately 641 large and small business that received financial assistance under PSP.

Program recipients with questions about reporting, technical issues, eligible uses of funds, or other items click here for self-service resources.

 

 

Information for Program Participants:

PSP3 Guidance and Information

PSP2 Guidance and Information

PSP1  Guidance and Information

Compliance

Frequently Asked Questions (updated 6/30/2020)

Creating a Certified Digital Identity (7/9/2020)

Data Collection Template Guidance (7/19/2020)

General Questions and CARES Administration Hub Guidance (10/16/2020)

Related Information

 

Reports to Congress on the PSP

Report on Pandemic Relief for Aviation Workers (11/01/2020)

Update to the Report on Pandemic Relief for Aviation Workers (03/29/2021)

Report on Pandemic Relief for Aviation Workers (05/01/2021)

Update to the Report on Pandemic Relief for Aviation Workers (12/28/2021)

LOAN PROGRAM

Treasury has published resources for making loans to provide liquidity to eligible businesses related to losses incurred as a result of coronavirus.

A list of loan program participants along with transaction summaries and documentation is available online.

Reports to Congress on the loan program are available online. 

Program Information

WARRANT AUCTION

Treasury has published resources related to the auctions to sell its warrants that were issued by certain publicly traded airlines. 

Warrant Auction Procedures Revised as of 5/31/2024

Warrant Issuer Summary & Reserve Prices as of 6/12/2024

Public Warrant Agreements

Form of Auction Participation Agreement  (Updates Only to Annex A & Schedule A)

Form of Securities Purchase Agreement as of 5/23/2024
 

Related Press Releases

Treasury Auctions for Airline Warrants Generate $556 Million to Taxpayers (6/21/2024)

Treasury Announces Plan to Sell Airline Warrants (5/10/2024)

Treasury Announces Payroll Support to Aid Employees of Small Passenger Air Carriers (4/10/20)

Treasury Finalizes Agreements with Major Airlines, Disburses Initial Payroll Support Program Payments (4/20/20)

Update on Treasury Implementation of the Payroll Support Program for the Aviation Industry (5/12/2020)