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EU Approves €3.7 Million Aid for Displaced Airbus France Workers

Nearly 300 Airbus employees in France will benefit from European Union financial assistance after they were laid off due to the COVID-19 pandemic.

The €3.4 million aid was approved by the Budgets Committee yesterday, after it was proposed by the European Globalization Adjustment Fund for Displaced Workers (EGF) last year.

“In the context of the COVID-19 pandemic, general travel restrictions have led to a general collapse of commercial aviation, particularly in the passenger segment, and according to Airbus, a full recovery of the sector is not expected to occur before 2025,” House members noted.

This assistance, which will help fund training on how to set up businesses and start-up grants, applies to 508 displaced workers – 297 of whom are expected to use the measures soon. The estimated cost of the support aid is 4.4 million euros – 85 percent or 3.7 million euros, to be financed by the European Globalization Adjustment Fund, with Airbus providing the rest (0.7 million euros).

Parliament voted convincingly for it with 40 votes in favour, one against and no abstentions. Approval is expected by the plenary during the session in Strasbourg, which will take place between February 14 and February 17, reports.

Moreover, the fund will continue to provide financial support to workers and self-employed people who have lost their jobs or temporarily stopped their activities due to the pandemic. EU member states can apply for funding if at least 200 workers lose their jobs within a specified period of time.

According to the World Travel and Tourism Council (WTTC), employment rates have fallen, especially in European tourism; More specifically, 62 million jobs were lost in this sector in 2020.

The pandemic has caused employment in Spain to fall by 19.5 percent, which represents 202,000 job losses. In addition, one in every 11 jobs in this sector was left vacant during the second half of 2021. Looking ahead towards 2022, the labor market is expected to remain relatively affected as the WTTC forecasts that the average shortage in this sector will be 16,000 Factor.

Another country that experienced such shortages was Italy with a 12.4 percent drop in employment resulting in 215,000 job losses; France saw a 10.5 percent drop or 138,000 job losses, while Portugal saw a 92,000 drop in the travel and tourism sector – also a 19.6 percent drop. In addition, France expects further shortfalls in employment rates, as 15,000 workers may lose their jobs in 2022.

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