17-Mar-2021 Source: HAI
Helicopter Association International (HAI) welcomes the passage of H.R. 1319, The American Rescue Plan Act of 2021. The $1.9 trillion pandemic aid package includes several key provisions that provide targeted relief to the aviation industry.
The relief package features a new, $3 billion payroll support program for aviation manufacturers that would help prevent involuntary furloughs of thousands of workers at some 5,000 aeronautical repair stations and similar aviation businesses and roughly 1,500 aerospace manufacturers. The measure will also provide $8 billion for airports, including $100 million specifically for nonprimary general aviation and commercial service airports.
The American Rescue Plan Act expands the Paycheck Protection Program (PPP) by $7.25 billion, to $813.7 billion, and provides an additional $15 billion for the Economic Injury Disaster Loan (EIDL) program. Several significant reforms made to PPP in the COVID-19 relief bill from December 2020 are also included in the measure, such as expanded eligibility for a second forgivable loan.
The legislation includes another $15 billion extension of the Payroll Support Program (PSP3) for air carriers and features important changes to the program’s award calculation that were made under the previous extension. Many HAI members who’ve already received PSP funds could receive another grant plus an additional payment of 15% of that amount, depending on how they are able to apply. The PSP extension will continue to provide targeted relief for air carriers, including Part 135 operators, through Sep. 30, 2021.
“A significant portion of HAI’s member companies are small businesses, many of which have had their operations severely disrupted as a result of the pandemic,” says Jim Viola, HAI president and CEO. “Programs like the Paycheck Protection Program and the Payroll Support Program have been vital lifelines to keeping their companies running and their employees on the payroll. The addition of the new relief program for aviation manufacturing workers is an essential component to building back our industry. We are very pleased to see additional funding and much-needed improvements to the programs included in the legislation.”