PURPOSE: THE PAYROLL SUPPORT PROGRAM (PSP) PROVIDES TEMPORARY FINANCIAL ASSISTANCE TO PASSENGER AIR CARRIERS, CARGO A...
$5,591,860,242
Recipient
AI Summary
The Department of the Treasury awarded $5.6 billion to Delta Air Lines through the Payroll Support Program (PSP), which provided emergency financial assistance to airlines during the COVID-19 pandemic. The funding was required to be used exclusively for employee wages, salaries, and benefits, with restrictions on furloughs and pay cuts, to preserve aviation industry jobs.
Key Points
- 01$5.6 billion to Delta Air Lines for employee payroll support
- 02Funded under three rounds of the Payroll Support Program (PSP1, PSP2, PSP3)
- 03Must be used exclusively for wages, salaries, and benefits
- 04Restrictions on furloughs and pay rate reductions
- 05Goal was to preserve aviation jobs during the COVID-19 pandemic
Award Details
Official Source
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Quick Summary
- Amount
- $5.6B
- Agency
- Department of the Treasury
- Recipient
- DELTA AIR LINES, INC.
- Type
- Direct Payment
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