Sat, Mar 13, 2021
Urges Treasury to Immediately Apportion PSP2 Awards for Small Carriers
After sending a letter to Department of Treasury Secretary Janet Yellen, Regional Airline Association (RAA) President and CEO Faye Malarkey Black offered the following statement:
"RAA urges the Department of Treasury to apportion all delayed PSP awards for small air carriers without delay and quickly process the next round of PSP extension applications before the end of March.
Unfortunately, two months after some smaller regional airlines submitted applications for early consideration of workforce aid under the last PSP extension, some carriers have not been funded and have not received an update on their status. This is particularly concerning given regional airlines, which serve fragile markets, have been among the hardest hit by the pandemic. Last year, four regional airlines ceased operating in whole or in part due to the COVID-19 pandemic and its impact on passenger demand. The resulting loss of approximately 10,000 jobs has accelerated the loss of air service and competition across the country.
Now that Congress has passed the American Rescue Plan Act of 2021, containing $14 billion in additional PSP for passenger air carriers, the Department will soon begin accepting PSP3 applications. RAA is gravely concerned that delayed processing of PSP2 applications will cascade, particularly if the Department once again prioritizes only large air carriers. Such delays would perpetuate subsequent delays, because only those carriers who have received for PSP2 award will be eligible to receive their PSP3 award. This inequity stands as a fundamental threat to small community air service across the nation.
RAA remains tremendously grateful to Congress and the Biden Administration for their leadership in extending this vital workforce assistance. Without it, tens of thousands of airline workers would be disconnected from their livelihood, to the detriment of the communities who rely on them for air service. RAA is committed to working with Treasury on a resolution and our team will continue outreach to the Department toward that end."
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