US grants $482.3 million to support aviation manufacturing jobs
The United States Department of Transport (DOT) announced on September 13, 2021, that it would grant $482.3 million in funding for 313 companies under the Aviation Manufacturing Jobs Protection Program (AMJP).
The job protection program is a part of the Biden-Harris administration’s American Rescue Plan. The funding will be allocated to companies in 37 states and Puerto Rico, helping protect 22,500 aviation manufacturing-related jobs nationwide.
“For the past year and a half, our aviation industry workers have helped keep this economy moving, including by supporting the delivery of lifesaving medical equipment and vaccines,” said the U.S. Transportation Secretary Pete Buttigieg. “The funding announced today will save jobs and support the workers who have supported us throughout the pandemic.”
The US aerospace industry employed approximately 2.2 million workers before the pandemic. Subsequently, 100,000 jobs have been lost since the beginning of the pandemic, with hundreds of thousands more at risk, as per the DOT.
The AMJP funds can be utilized to pay up to half of the payroll costs for specific categories of employees engaged in manufacturing or repair for up to six months. The companies have to ensure certain commitments, including not involuntarily furlough or lay off employees (or reduce pay or benefits) within that group when the business is receiving the payroll support.
Companies such as Spirit Aerosystems have received funding up to $75 million, protecting almost 3,214 jobs.
The DOT will announce the additional funding recipients under the AMJP in the upcoming fall of 2021.
Indian airlines allowed to carry 85% of passenger load capacity
Indian domestic carriers eligible to operate with 85% of passenger load capacity....
Airlines sees bookings “surge” after UK eases travel restrictions
The UK has eased some of its travel rules for vaccinated passengers, leading some companies to report a surge in booking...
India to invest $680 million in drone manufacturing industry
India will invest $680 million in the drone manufacturing and components industry under the PLI scheme...