DOT SETS PLAN FOR REMAINING CARRIER PAYMENTS

DOT SETS PLAN FOR REMAINING CARRIER PAYMENTS    The U.S. Department of Transportation has announced procedures for air carriers to use while applying for assistance available under the Air Transportation Safety and Stabilization Act.
   The act allows compensation up to $500 million for all-cargo carriers. Passenger carriers Up have been provided with up to $4.5 billion.
   Under Thursday’s ruling, the department will distribute up to 85 percent of the compensation for which a carrier is eligible, including any funds already provided. Procedures for distributing the remaining funds will be announced at a later date, the department said.
   To be eligible for payments, carriers must report financial data that includes their losses between Sept. 11-30, and estimated losses for the next year. The DOT said it is making these payments in stages so that no carrier is overpaid. Compensation will be paid to all-cargo carriers based on the lesser of the direct and incremental losses due to the attacks, or a formula amount based on a carrier’s proportionate share of reported available seat-miles (passenger flights) or revenue ton-miles (cargo-only flights).
   The deadline for carriers to file applications is Nov. 12. The rule may be viewed on the Internet at https://www.dot.gov .