Tulsa World

Aircraft firms to get $482 million

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The Biden administra­tion is making $482 million available to aviation industry manufactur­ers to help them avert job or pay cuts in the pandemic.

The taxpayer-funded relief will cover up to half of the payroll costs at 313 companies, according to the Transporta­tion Department, which said Thursday will help save up to 22,500 jobs.

Air travel plummeted due to the spread of COVID-19. The delta variant has led to elevated cancellati­ons and diminished travel in recent months. More than 100,000 aerospace jobs have been lost in an industry that had employed about 2.2 million people, according to the Transporta­tion Department.

The largest recipient the fund funds announced Monday is Spirit Aerosystem­s, a Boeing supplier based in Kansas, which stands to get $75.5 million that the government says will help protect 3,214 jobs. Parker-Hannifin Corp. of Ohio, which makes hydraulic systems for planes, will get $39.7 million. The avionics unit of Japan’s Panasonic, based in California, will get $25.8 million, and several

U.S. subsidiari­es of France’s Safran S.A. will get a total of $24.8 million.

Money for the aerospace companies is coming from a $1.9 trillion package approved by Congress and signed by President Joe Biden in March.

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