(MENAFN – Caribbean Information International)
WASHINGTON, USA – US Treasury Secretary Steven T. Mnuchin introduced that the US Division of the Treasury accepted greater than $12 billion in payroll help for main passenger air carriers to help airline business staff.
Subtitle A of Title IV of Division N of the Consolidated Appropriations Act, 2021 (the PSP Extension Legislation) supplies for as much as $16 billion in payroll help for American staff employed by passenger air carriers and contractors (PSP2). Treasury concluded PSP2 agreements with Alaska Airlines, Allegiant Air, American Airlines, Delta Air Traces, Frontier Airlines, Hawaiian Airlines, JetBlue Airways, Republic Airways, SkyWest Airlines, Southwest Airlines, Spirit Airlines, and United Airlines. Collectively, these airways characterize almost 95 % of US airline capability.
Treasury additionally made the primary PSP2 funds to passenger air carriers final Friday, disbursing a complete of $6.1 billion to main air carriers to help a whole bunch of hundreds of jobs. To guard taxpayers, Treasury obtained notes and warrants from these carriers, as required underneath Part 408 of the PSP Extension Legislation.
‘The Payroll Assist Program supplied essential help to the aviation business and its staff,’ stated Secretary Steven T. Mnuchin. ‘The extension of this program will present extra financial aid for staff, whereas additionally defending taxpayer funds.’
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