Eligible businesses given December deadline to complete application process
The U.S. Transportation Department offered aviation manufacturing firms $184 million this week, in an effort to help support the industry.
The payroll assistance is being extended to a total of 158 aviation manufacturing businesses and is on top of a $482.3 million offer made to 313 firms in September.
A total of $17.5 million will be given to BAE Systems Controls, while around $13 million will go to Airbus and Dassault Falcon Jet Corp.
The deadline to complete the application process needed to qualify for the funds will be Dec. 13.
“This Administration has made it a priority to protect manufacturing jobs in the U.S.,” said U.S. Transportation Secretary Pete Buttigieg. “This funding will save thousands of manufacturing jobs, support hundreds of small businesses, and help keep America’s aviation industry strong.”
The subsidy program has been designed to cover as much as half of an eligible company’s costs for compensation for up to six months.
Businesses that want to receive the funds must make a commitment not to conduct furloughs with the consent of their workers or to lay off employees who are covered by the subsidies.
Eligible companies include those that repair or overhaul planes and those that manufacture aircrafts, propellers, components, or engines, reports Reuters.
A company is only eligible to qualify for the aid if it has involuntarily furloughed or let go at least 10% of its workers.
Eligibility can also be achieved by having a total operating revenue decrease of at least 15% during the year 2020, reports Reuters.
Many of the companies who were extended aid are small businesses. Nearly 300 of the 469 total eligible companies had less than 100 total employees as of April 2020.