Statement by AIAC on the latest extension of the Canada Emergency Wage SubsidyMay 15, 2020
OTTAWA (ONTARIO) – Mike Mueller, Senior Vice President of the Aerospace Industries Association of Canada, today issued the following statement on the federal government extension of the Canada Emergency Wage Subsidy (CEWS) by an additional 12 weeks to August 29, 2020.
“Canada’s aerospace industry appreciates that the federal government has listened to the concerns we have been raising regarding the need for this extension.
“The consequences of aircraft being grounded due to COVID-19 cascade down to our industry – to original equipment manufacturers (OEMs), maintenance, repair and overhaul workers (MRO) and ongoing work relating to Canada’s assets in space. With longer lead times in supply chain slowdowns, the devastating economic effects of this crisis are going to reverberate across our industry for years to come.
“There is a need now, more than ever, for the Federal Government to work with us on a long-term sectoral strategy for Canada’s aerospace industry. Ensuring a strong Canadian aerospace sector will be crucial to rebuilding Canada’s economy given aerospace’s substantial contributions to our nation’s economic health on an annual basis – $31 billion in revenues, over $25 billion to GDP and nearly 215,000 jobs,” said Mueller.
For more on the wage subsidy and other economic relief measures, please visit: www.aiac.ca/covid19
AIAC is the national association representing Canada’s aerospace manufacturing and services sector. As the world’s fifth-largest aerospace industry, Canada’s aerospace sector contributes nearly $25B to the economy in GDP, exports 75% of its output, and dedicates over 20% of its activity to research and development (R&D). Aerospace is responsible for the employment of 215,000 Canadians.
More details: www.aiac.ca
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