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Private jet company founded by Trump donor gets $27 million CARES bailout
https://www.cnbc.com/2020/05/14/private-jet-company-owned-by-trump-donor-gets-27-million-bailout.html
PUBLISHED THU, MAY 14 20208:47 AM EDT UPDATED 37 MIN AGO
Robert Frank
A private jet company founded by a donor to President Donald Trump received nearly $27 million in government funding under a program run by the Treasury Department, according to government filings.
Clay Lacy Aviation, a private jet charter company based in Van Nuys, California, that serves wealthy executives and celebrities, received the government grant as part of the CARES Act, a $2 trillion federal stimulus package aimed at supporting jobs during the coronavirus crisis.
The company appears to have received the largest grant of any private jet company on the list. The vast majority of the other 96 recipients of government funding or loans on the list are major commercial airlines, regional carriers or support companies. Other large private jet operators such as NetJets are not on the list.
The funding is a grant rather than a loan, and doesn’t need to be repaid to the government. The money is part of the CARES Act program to “compensate aviation industry workers and preserve jobs.”
</snip>
PUBLISHED THU, MAY 14 20208:47 AM EDT UPDATED 37 MIN AGO
Robert Frank
A private jet company founded by a donor to President Donald Trump received nearly $27 million in government funding under a program run by the Treasury Department, according to government filings.
Clay Lacy Aviation, a private jet charter company based in Van Nuys, California, that serves wealthy executives and celebrities, received the government grant as part of the CARES Act, a $2 trillion federal stimulus package aimed at supporting jobs during the coronavirus crisis.
The company appears to have received the largest grant of any private jet company on the list. The vast majority of the other 96 recipients of government funding or loans on the list are major commercial airlines, regional carriers or support companies. Other large private jet operators such as NetJets are not on the list.
The funding is a grant rather than a loan, and doesn’t need to be repaid to the government. The money is part of the CARES Act program to “compensate aviation industry workers and preserve jobs.”
</snip>
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