"This crisis was not of their making," said Senator Collins. "We need to help keep the industry aloft while the airlines regroup and move forward. This industry represents a critical component of our overall economy and cannot be allowed to founder. We''re already seeing layoffs in the tens of thousands, cutbacks in services, and higher costs for insurance and security. The severity of this crisis is affecting other industries as well, ranging from aircraft manufacturers to hotels to tourism. Passing this legislation is the right thing to do."
The Air Transportation System Stabilization Act, which passed the Senate 96-1, authorizes and appropriates $5 billion in cash and $10 billion in loan guarantees for the airline industry. Small commercial airlines, as well as large, will receive assistance from both sources. President Bush also plans to take $3 billion from the $40 billion that Congress appropriated last week.
An additional component of the legislation important to the state of Maine concerns Essential Air Service. The bill directs the Secretary of Transportation to "take appropriate action to ensure that all communities that had scheduled air service before September 11, 2001 continue to receive adequate air transportation service and that essential air service to small communities continues without interruption."
In addition, the legislation more than doubles the authorization for the Essential Air Service program to $120 million. Four Maine communities – Augusta, Bar Harbor, Rockland, and Presque Isle – have scheduled air service as a result of this important program.
"It is imperative that we maintain access to air service for Maine people. This legislation will help ensure that scheduled air service, a critical component of our state''s economy, continues at airports throughout the state."