Treasury Department Begins Processing PSP Requests

 - January 25, 2021, 11:44 AM

This story is part of AIN's continuing coverage of the impact of the coronavirus on aviation.

On Friday, the Treasury Department began sending agreements to Part 135 carriers that applied for assistance under the second version of the Payroll Support Program (PSP) that Congress authorized late last year under the Fiscal Year 2021 Consolidated Appropriations Act, according to the National Air Transportation Association (NATA).

The act set aside $15 billion to cover passenger air carrier worker compensation and $1 billion for their contractors. The Treasury Department has released a list of about 240 applicants, NATA noted, advising members to contact the association if they applied for PSP support before January 15 but did not see their names on the list.

NATA said the Treasury Department has indicated it will process the 121 applications first—as it did with the initial PSP—with approximately $12.25 billion anticipated to be earmarked for those carriers. The Treasury Department is prorating payments at a level of 39 percent of the awardable amount in accordance with the measure in the appropriations act, NATA added.

The association also advised its members that the Treasury Department has not yet started processing contractor applications.