U.S. offers $184 million to 158 aviation manufacturing firms -Breaking
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© Reuters. FILEPHOTO: An aircraft carrying passengers takes off from Reagan National Airport. You can see the control tower at the lower right. REUTERS/Gary Cameron/File PhotographBy David Shepardson
(Reuters) – The U.S. Transportation Department will announce on Monday it is offering an additional $184 million in payroll assistance to 158 more aviation manufacturing businesses.
In September, the department offered $482.3 million to 313 aviation manufacturing businesses. A Reuters release said that the department offered $17.5million to BAE Systems Controls (OTC:) Controls, and approximately $13 million to Airbus’s U.S. arm as well as Dassault Falconjet Corp.
Department officials stated that they will open the application process again, but this time with applications due Dec. 13.
Congress approved a program to provide a payroll subsidy for aviation manufacturers worth $3 billion. This will help pay half the compensation costs of companies that are eligible, and it can be extended up to six months.
This agreement requires that companies agree not to conduct furloughs or lay off workers covered by subsidy during the period of six months.
These companies include manufacturers of components and aircraft engines as well repair and overhaul firms.
For a company to be eligible, it must have either involuntarily laid off 10% or more of its entire workforce.
U.S. Transportation Secretary Pete Buttigieg said the funding “will save thousands of manufacturing jobs, support hundreds of small businesses, and help keep America’s aviation industry strong.”
Most of those who received funds were small-sized businesses. Out of 469 recipients of funds, 298 (or 63%) had less than 100 workers at April 2020.
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