(MENAFN – Caribbean Information World)
WASHINGTON, USA – US Treasury Secretary Steven T. Mnuchin introduced that the US Division of the Treasury accredited greater than $12 billion in payroll help for main passenger air carriers to help airline trade employees.
Subtitle A of Title IV of Division N of the Consolidated Appropriations Act, 2021 (the PSP Extension Legislation) offers for as much as $16 billion in payroll help for American employees 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 signify practically 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 tons of of 1000’s of jobs. To guard taxpayers, Treasury acquired notes and warrants from these carriers, as required beneath Part 408 of the PSP Extension Legislation.
‘The Payroll Help Program supplied essential help to the aviation trade and its employees,’ stated Secretary Steven T. Mnuchin. ‘The extension of this program will present further financial aid for employees, whereas additionally defending taxpayer funds.’
Authorized Disclaimer: MENAFN offers the data “as is” with out guarantee of any sort. We don’t settle for any duty or legal responsibility for the accuracy, content material, pictures, movies, licenses, completeness, legality, or reliability of the data contained on this article. If in case you have any complaints or copyright points associated to this text, kindly contact the supplier above.