Trump says government should buy years of plane tickets now

Jordan Fabian

President Donald Trump suggested that the U.S. government should try to buy four to five years’ worth of plane tickets in advance at a discount to inject struggling U.S. airlines with money.

“One of the ways we can help the airlines is buying tickets at a very large discount, maybe 50% off or maybe more, and you buy into four or five years’ worth of tickets, and you infuse them with some cash,” Trump said during an Oval Office ceremony on Friday where he signed a $484 billion coronavirus stimulus measure.

“And in the meantime, we’re flying the people of our country for a fraction of the cost it would be when the airlines get back,” he added.

Airline shares pared losses on the remarks. A Standard & Poor’s index of five major carriers fell 2.4% at 1:27 p.m. in New York.