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Home Source documents Update to the Report on Pandemic Relief for Aviation Workers (12/28/2021)

Update to the Report on Pandemic Relief for Aviation Workers (12/28/2021)

Summary

A U.S. Department of the Treasury report dated December 28, 2021 on pandemic relief for aviation workers, made under section 409 of the Consolidated Appropriations Act, 2021, enacted December 27, 2020. It updates Treasury's report dated May 1, 2021 on financial assistance to passenger air carriers and contractors under the payroll support program extension (PSP2) under section 402 of Division N of the Act. It describes the assistance provided, reports filed by recipients, audits and instances of recipient non-compliance, and clawbacks. It states that the Act authorizes Treasury to provide up to $15 billion to passenger air carriers under PSP2.

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                      Report on Pandemic Relief for Aviation Workers
                              Pursuant to Section 409 of the
                          Consolidated Appropriations Act, 2021

                                             December 28, 2021

Introduction

This report updates a report issued by the U.S. Department of the Treasury, dated May 1, 2021,
regarding financial assistance provided to passenger air carriers and contractors under the payroll
support program extension (PSP2) under section 402 of Division N of the Consolidated
Appropriations Act, 2021 (the Act), which was enacted on December 27, 2020. As required by
section 409 of the Act, this report describes the financial assistance provided under PSP2; reports
filed by recipients under PSP2; audits of recipients under PSP2 and instances of recipient non-
compliance with PSP2 requirements; and clawbacks of financial assistance under PSP2.

Description of Financial Assistance Provided Under PSP2

The Act authorizes Treasury to provide up to $15 billion to passenger air carriers and up to $1
billion to certain contractors 1 under PSP2. 2

Treasury issued guidelines and applications procedures for PSP2 on December 29, 2020 – two
days after the Act was enacted. Treasury began receiving applications for PSP2 assistance on
January 7, 2021, and on January 15, 2021, entered into the first PSP2 agreements with 12
applicants that received almost 90 percent of the total PSP2 funds.

As shown in Table 1 below, Treasury approved a total of $15.7 billion in PSP2 assistance for
488 participants, which includes $14.8 billion for 306 passenger air carriers and $0.9 billion for
182 contractors. See Appendix A for a list of all PSP2 participants. Additional information
regarding PSP1, PSP2, and PSP3 is available at https://home.treasury.gov/policy-
issues/coronavirus/assistance-for-american-industry/airline-and-national-security-relief-
programs.




1
  Section 401(2) of the Act defines “contractor” as a person that performs, under contract with a passenger air carrier
conducting operations under 14 CFR part 121, (1) catering functions or (2) functions on the property of an airport
that are directly related to the air transportation of persons, property, or mail, including, but not limited to, the
loading and unloading of property on aircraft, assistance to passengers under 14 CFR part 382, security, airport
ticketing and check-in functions, ground-handling of aircraft, or aircraft cleaning and sanitization functions and
waste removal. A subcontractor that performs such functions is also within the definition of “contractor.”
2
  PSP2 is one of three similar programs authorized in 2020 and 2021 to assist passenger air carriers and certain
contractors. The two other programs are the payroll support program (PSP1) authorized under Division A, Title IV,
Subtitle B of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), under which Treasury
provided more than $28 billion to 612 recipients in 2020, and the payroll support program (PSP3) under the
American Rescue Plan Act of 2021, which authorized Treasury to provide up to an additional $15 billion to
passenger air carriers and contractors that participated in PSP2.

                                                                                                                     1
                Table 1: PSP2 Participants and Payroll Support Amounts by Type
                                    as of December 27, 2021

          PSP2 Participant                  Number of Participants                    Total Payroll Support
    Passenger Air Carriers                                       306                           $14,789,942,599
    Contractors                                                  182                              $878,721,902
    Total                                                        488                           $15,668,664,501


Requirements on PSP2 Participants

Treasury required all approved PSP2 participants to enter into standard form payroll support
program extension agreements (PSP2 Agreements), which provide the program terms and
conditions. 3 Among other requirements, under the PSP2 Agreements, all PSP2 participants were
required to:

      •   Use the PSP2 funds exclusively for the continuation of employee wages, salaries, and
          benefits;
      •   Not conduct involuntary terminations or furloughs of employees, through March 31,
          2021;
      •   Not reduce pay rates or benefits of employees, through March 31, 2021;
      •   Ensure that neither the participant nor any affiliate entity purchases an equity security of
          the participant or any direct or indirect parent company of the participant that, in either
          case, is listed on a national securities exchange, through March 31, 2022;
      •   Not pay dividends, nor make other capital distributions, with respect to its common stock
          (or equivalent interest), through March 31, 2022;
      •   Restrict the compensation of certain employees whose total compensation exceeded
          $425,000 in 2019, through October 1, 2022; and
      •   Provide quarterly written reports and additional information, as requested, to Treasury.

In addition, passenger air carriers that participate in PSP2 are required to maintain, until March
1, 2022, certain scheduled air transportation service as directed by the Secretary of
Transportation.

PSP2 recipients were required to recall 4 and compensate certain employees who had previously
been involuntarily terminated or furloughed. Specifically, within 72 hours after entering into a

3
  The form of the PSP2 Agreement for passenger air carriers is available at
https://home.treasury.gov/system/files/136/FormofPayrollSupportAgreementPassengerAirCarriers.pdf, and the form
of the PSP2 Agreement for contractors is available at
https://home.treasury.gov/system/files/136/FormofPayrollSupportAgreementContractors.pdf.
4
  “Recall” is defined in the Act as the dispatch of a notice via mail, courier, or e-mail, to an involuntarily terminated
or furloughed employee notifying the employee that (1) the employee must, within a specified period of time, elect
either (a) to return to employment or bypass return to employment, in accordance with an applicable collective
bargaining agreement or, in the absence of a collective bargaining agreement, company policy; or (b) to permanently
separate from employment with the passenger air carrier or contractor; and (2) failure to respond within such time
period specified shall be considered an election to permanently separate from employment with the passenger air
carrier or contractor.

                                                                                                                       2
PSP2 Agreement with Treasury, passenger carriers and contractors were required to recall any
employees who they had involuntarily terminated or furloughed between March 27, 2020 (for
PSP2 participants that did not receive financial assistance under PSP1) or October 1, 2020 (for
PSP2 participants that received financial assistance under PSP1), and the date of the participant’s
PSP2 Agreement. Participants were required to enable recalled employees to return to
employment within 30 days after electing to do so.

Additionally, each PSP2 participant was required to provide all recalled employees who returned
to employment with compensation for lost pay and benefits for the period between December 1,
2020, and the date of the participant’s PSP2 Agreement. 5 Each PSP2 participant also was
required to restore the rights and protections for any returning employees as if the employees had
not been involuntarily terminated or furloughed. Treasury required all PSP2 participants to
provide documentary evidence of having met these employee recall requirements.

Like under PSP1 and PSP3, PSP2 participants receiving the largest amounts of funding under the
program were required to issue to Treasury notes and, in some cases, warrants to purchase shares
of common stock, as compensation to taxpayers for the assistance provided. See Appendix B for
a list of the PSP2 participants that provided Treasury with financial instruments as taxpayer
compensation.

Reports Filed by PSP2 Participants

The PSP2 Agreements require PSP2 participants to submit quarterly reports to Treasury
containing the following information:

    •    The amount of PSP2 funds expended during the quarter;
    •    The participant’s financial statements (audited by an independent certified public
         accountant, in the case of annual financial statements 6);
    •    A copy of the participant’s IRS Form 941 filed with respect to such quarter; and
    •    A detailed summary describing, with respect to the participant, (1) any changes in
         employee headcount during the quarter, including any involuntary termination or
         furlough, and the reasons for any such changes; (2) any changes in the amounts spent by
         the participant on employee wages, salaries, and benefits during the quarter; and (3) any
         changes in total compensation for, and any severance pay or other benefits in connection
         with the termination of, corporate officers and employees subject to limitation under the
         PSP2 Agreement during the quarter, and the reasons for any such changes.

Each PSP2 participant’s quarterly reports must include certifications, signed by an authorized
signatory, that the participant is in full compliance with the terms and conditions of the PSP2
Agreement. Treasury reviews each quarterly report to assess compliance with the terms of the
PSP2 Agreement.

5
  The amount of compensation for lost pay and benefits is to be offset by any amounts the returning employee had
received from a passenger air carrier or contractor as a result of the employee’s termination or furlough, including,
but not limited to, furlough pay, severance pay, or separation pay.
6
  If a participant does not prepare audited financial statements in the ordinary course of its business, Treasury
permits the participant to submit certified unaudited financial statements.

                                                                                                                        3
As of December 27, 2021, PSP2 participants have submitted quarterly reports for the first and
second quarters of 2021 (see Table 2 below). The third quarterly report is due in January 2022.
See Appendix C for a quarterly compliance report template.

          Table 2: Reporting Periods and Due Dates for PSP2 Quarterly Reports
           Quarter                     Reporting Period                 Report Due Date
 1                               January 1 – March 31, 2021       June 30, 2021
 2                               April 1 – June 30, 2021          September 20, 2021
 3                               July 1 – September 30, 2021      January 6, 2022

Audits of PSP2 Participants and Instances of Non-Compliance

Treasury conducts regular compliance reviews to monitor PSP2 participants’ compliance with
their PSP2 Agreements.

Treasury uses a risk-based approach to identify, assess, and remediate any instances of non-
compliance. All recipients receive a baseline (“Level 1”) compliance review, with an additional,
more detailed compliance review performed on certain recipients depending on risk indicators,
including factors identified in the Level 1 review or the size of the recipient’s PSP2 award.
Compliance testing uses a combination of structured data gathering and management, automated
system-applied business rules, manual review of documents and information, and interviews
with relevant recipients to identify and assess instances of potential non-compliance.

While monitoring continues, Treasury has made one determination that a recipient was
noncompliant with certain terms of its PSP2 Agreement. Specifically, this recipient conducted
involuntary terminations or furloughs before entering into its PSP1 Agreement and did not recall
employees or certify that it had insufficient funds to compensate recalled employees for the
period required by the Act. Under PSP2, any contractor that received PSP1 financial assistance
was required to issue recall notices as soon as practicable in January 2021 to employees who
were involuntarily furloughed or terminated between March 27, 2020, and the date of their PSP1
Agreement if the contractor (1) had unspent financial assistance as of December 27, 2020; and
(2) conducted involuntary furloughs or reduced the pay rates and benefits between March 27,
2020, and the date on which the contractor entered into its PSP1 Agreement with Treasury.




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                                              Appendix A
      Table 1 – PSP2 Passenger Air Carriers

                        Participant1                   City2   State   Agreement Date3      Payroll Support4
AIR EXCURSIONS LLC                            JUNEAU           AK                5/7/2021                      $77,340
ALASKA RELIANT INC                            ANCHORAGE        AK               10/5/2021                  $389,510
ALASKA SKYWAYS INC                            ANCHORAGE        AK               2/26/2021                  $173,533
ALPHA AVIATION LLC                            ANCHORAGE        AK               2/23/2021                  $189,816
ALPINE AIR ALASKA LLC                         GIRDWOOD         AK               2/23/2021                  $577,067
BALD MOUNTAIN AIR SERVICE INC.                HOMER            AK                6/3/2021                      $37,195
BERING AIR INC.                               NOME             AK               2/23/2021                $3,736,260
BRANCH RIVER AIR SERVICE INC.                 ANCHORAGE        AK               2/25/2021                      $96,631
COASTAL HELICOPTERS INC.                      JUNEAU           AK                2/1/2021                $1,074,825
CORVUS AIRLINES INC                           ANCHORAGE        AK                4/5/2021               $10,478,223
COYOTE AIR LLC                                FAIRBANKS        AK               2/23/2021                      $50,625
EGLI AIR HAUL INC.                            KING SALMON      AK                2/5/2021                  $119,625
GOLDEN EAGLE OUTFITTERS INC.                  DELTA JUNCTION   AK               5/21/2021                  $141,945
GRANT AVIATION INC.                           ANCHORAGE        AK               2/26/2021                $3,509,435
ISLAND WINGS AIR SERVICE LLC                  KETCHIKAN        AK                4/7/2021                      $79,380
JEFFREY JOHN CARLIN                           KETCHIKAN        AK               3/24/2021                      $92,866
K BAY AIR LLC                                 HOMER            AK               3/24/2021                  $327,730
KALININ AVIATION LLC                          JUNEAU           AK               2/23/2021                $1,817,033
NORTHSTAR TREKKING LLC                        KETCHIKAN        AK                2/1/2021                  $918,203
NORTHWIND AVIATION LLC                        HOMER            AK               2/23/2021                      $37,514
PAKLOOK AIR INC.                              BETHEL           AK               2/23/2021                  $897,332
PATHFINDER AVIATION LLC                       ANCHORAGE        AK                2/9/2021                $1,589,005
PM AIR LLC                                    KETCHIKAN        AK               2/10/2021                  $214,708
REDEMPTION INC.                               KODIAK           AK               2/23/2021                  $437,041
RENFRO'S ALASKAN ADVENTURES INC.              BETHEL           AK                4/7/2021                      $44,113
SCOTT AIR LLC                                 CRAIG            AK                2/5/2021                  $630,098


                                                                                                                   5
                         Participant1            City2    State   Agreement Date3      Payroll Support4
SEAWIND AVIATION, INC.                  KETCHIKAN         AK               12/2/2021                      $75,691
SMOKEY BAY AIR INC.                     HOMER             AK               2/26/2021                  $245,812
SPERNAK AIRWAYS INC                     ANCHORAGE         AK               2/23/2021                  $166,396
TEMSCO HELICOPTERS INC.                 KETCHIKAN         AK                2/1/2021                $3,261,260
TRAIL RIDGE AIR INC.                    ANCHORAGE         AK               3/11/2021                      $86,315
ULTIMA THULE INC                        CHITINA           AK               2/23/2021                  $200,184
VENTURE TRAVEL LLC                      KETCHIKAN         AK                3/9/2021                  $965,046
VERTICAL SOLUTIONS LLC                  GIRDWOOD          AK               2/23/2021                      $60,160
WARBELOW'S AIR VENTURES INC.            FAIRBANKS         AK               2/23/2021                  $610,735
WARD AIR INC.                           JUNEAU            AK               3/24/2021                  $382,405
WINGS AIRWAYS LLC                       JUNEAU            AK               2/23/2021                  $432,489
WRIGHT AIR SERVICE INC.                 FAIRBANKS         AK                3/9/2021                $1,524,839
JET SERVICES INC.                       MOBILE            AL                3/9/2021                  $184,654
SOUTHERN SKY AVIATION CHARTERS LLC      BIRMINGHAM        AL               2/12/2021                  $253,814
CENTRAL FLYING SERVICE INC.             LITTLE ROCK       AR               3/24/2021                $1,068,562
MIKE MOSER INC.                         ROGERS            AR               4/19/2021                      $83,858
ALANTE AIR CHARTER LLC                  SCOTTSDALE        AZ                3/9/2021                  $384,144
CUTTER FLIGHT MANAGEMENT INC.           PHOENIX           AZ               3/24/2021                  $376,816
MESA AIRLINES INC.                      PHOENIX           AZ                2/5/2021               $55,967,320
PINNACLE AIR CHARTER LLC                SCOTTSDALE        AZ                5/7/2021                $1,254,188
WORLDWIDE JET CHARTER INC               PHOENIX           AZ                2/1/2021                $2,909,291
ADVANCED AIR LLC                        HAWTHORNE         CA               3/19/2021                $1,766,268
AIR 7 LLC                               CAMARILLO         CA                2/9/2021                  $877,045
AIR RUTTER INTERNATIONAL LLC            LONG BEACH        CA                3/9/2021                $1,337,101
ASPEN HELICOPTERS INC.                  OXNARD            CA               5/12/2021                $1,024,798
AVIATION CONSULTANTS INC.               SAN LUIS OBISPO   CA               3/24/2021                $5,389,585
BOUTIQUE AIR                            SAN FRANCISCO     CA                2/9/2021                $5,565,886
C.C. CALZONE LLC                        SANTA ANA         CA               4/12/2021                  $361,724
CHANNEL ISLANDS AVIATION INC.           CAMARILLO         CA                2/5/2021                  $654,706


                                                                                                              6
                       Participant1                              City2   State   Agreement Date3      Payroll Support4
CLAY LACY AVIATION INC.                                 VAN NUYS         CA               2/25/2021               $18,456,175
CTP AVIATION LLC                                        HAYWARD          CA                3/9/2021                  $774,494
DESERT JET CHARTER LLC                                  THERMAL          CA                2/1/2021                  $692,360
DREAMLINE AVIATION                                      VAN NUYS         CA               2/17/2021                $1,069,148
ELDORADO AIR LLC                                        SACRAMENTO       CA               3/29/2021                  $730,629
FLIGHT CONCEPTS LLC.                                    NEWPORT BEACH    CA               5/21/2021                $3,575,923
FLIGHT LEVEL AVIATION LLC                               FRESNO           CA               2/10/2021                      $71,863
GOLDEN STATE JET LLC                                    VAN NUYS         CA                4/1/2021                  $212,014
HELINET AVIATION SERVICES LLC                           VAN NUYS         CA               3/30/2021                $1,995,398
JET METHODS INC.                                        CARLSBAD         CA               3/24/2021                  $242,917
LATITUDE 33 AVIATION LLC                                CARLSBAD         CA               3/24/2021                $1,448,203
LOYD'S AVIATION                                         BAKERSFIELD      CA                2/5/2021                  $541,943
MCLEAN AVIATION SERVICES INC.                           NAPA             CA               3/12/2021                  $140,243
MODESTO EXECUTIVE AIR CHARTER INC.                      MODESTO          CA               2/11/2021                  $537,067
MTE AIR VENTURES INC                                    SAN CARLOS       CA               2/11/2021                      $77,913
NEXJET CORPORATION                                      LONG BEACH       CA                4/7/2021                      $77,219
PACIFIC COAST JET LLC (PARENT COMPANY OF PCJ AVIATION
LLC)                                                    OAKLAND          CA                2/1/2021                $1,330,638
PEGASUS ELITE AVIATION INC.                             VAN NUYS         CA                2/2/2021                $2,538,578
PLANET NINE PRIVATE AIR LLC                             VAN NUYS         CA               3/24/2021                $2,705,391
REGENCY AIR LLC                                         SANTA ANA        CA               4/19/2021                  $517,799
SACRAMENTO EXECUTIVE HELICOPTERS INC.                   ELK GROVE        CA               2/12/2021                  $346,083
SCOTT AVIATION LLC                                      FRESNO           CA               3/24/2021                $2,372,745
SP AVIATION INC                                         OAKLAND          CA                2/5/2021                  $255,382
STARJET INC.                                            LOS ANGELES      CA                2/1/2021                  $190,015
SUN AIR JETS LLC                                        CAMARILLO        CA               2/12/2021                $2,511,899
SUPERIOR TRANSPORTATION ASSOCIATES INC                  COSTA MESA       CA                2/5/2021                $2,523,006
TANGO AIR INC.                                          CARLSBAD         CA               2/11/2021                  $767,281
TRANS-EXEC AIR SERVICE INC                              VAN NUYS         CA               3/11/2021                $1,255,496
WESTERN AIR CHARTER INC.                                VAN NUYS         CA               2/11/2021                $9,935,422


                                                                                                                             7
                        Participant1                City2     State   Agreement Date3      Payroll Support4
ASI CHARTER INC.                           ENGLEWOOD          CO               4/15/2021                  $310,075
FRONTIER AIRLINES INC                      DENVER             CO               1/15/2021              $161,083,131
INTERNATIONAL JET AVIATION SERVICES INC.   CENTENNIAL         CO               2/16/2021                  $691,052
KEY LIME AIR CORPORATION                   ENGLEWOOD          CO                2/5/2021                $3,191,178
MOSER AVIATION LLC                         ENGLEWOOD          CO                2/5/2021                  $300,504
PRIME JET US LLC                           ENGLEWOOD          CO                3/9/2021                $1,499,544
EAGLE AIR INC.                             DANBURY             CT              5/12/2021                  $142,068
TRADEWIND AVIATION LLC                     OXFORD              CT              2/11/2021                $2,557,667
AERO WAYS INC.                             NEW CASTLE         DE               2/11/2021                $1,084,899
DUMONT AIRCRAFT CHARTER LLC                NEW CASTLE         DE               3/24/2021                $2,032,752
DUMONT AVIATION GROUP INC                  NEW CASTLE         DE               4/13/2021                  $709,410
ACE AVIATION SERVICES CORP                 FORT LAUDERDALE     FL               2/1/2021                $1,364,886
AIR GATO ENTERPRISES INC.                  CLEARWATER          FL               4/2/2021                $1,007,404
AIR TREK INC.                              PUNTA GORDA         FL               2/3/2021                  $468,165
AIRCRAFT EVALUATION & MANAGEMENT INC.      ORLANDO             FL              4/19/2021                  $205,557
                                           NEW SMYRNA
AIRGATE AVIATION INC.                      BEACH               FL               4/7/2021                  $231,801
CARIBBEAN SUN AIRLINES INC                 MIAMI SPRINGS       FL               3/1/2021                $3,708,833
CATALINA AEROSPACE CORPORATION             N MIAMI             FL               2/3/2021                  $148,670
EASTERN AIR EXPRESS INC                    MIRAMAR             FL              2/17/2021                      $40,327
ELITE AIR INC.                             SAINT PETERSBURG    FL              3/24/2021                $1,463,795
EXECUTIVE AIRLINK INC                      WEST PALM BEACH     FL              4/14/2021                      $73,596
EXECUTIVE AVIATION CORPORATION             MIAMI               FL               2/5/2021                  $426,077
EXPRESS AVIATION CHARTER MANAGEMENT LLC    ST PETERSBURG       FL              5/21/2021                      $64,575
GLOBAL JETCARE INC                         BROOKSVILLE         FL              3/24/2021                  $856,215
JANNUS AIR INC                             TAMPA               FL               2/3/2021                      $34,650
JET ACCESS AVIATION LLC                    WEST PALM BEACH     FL               2/1/2021                $1,456,576
JETEX LLC                                  STUART              FL               3/2/2021                  $133,556
MIAMI AIR INTERNATIONAL INC.               MIAMI               FL              4/14/2021                $7,501,380
PANTHER AVIATION INC                       NAPLES              FL              3/19/2021                  $133,376


                                                                                                                  8
                         Participant1            City2    State   Agreement Date3      Payroll Support4
PREMIER AIR INC.                        STUART             FL               2/5/2021                  $763,534
PRESIDENTIAL AVIATION INC               FORT LAUDERDALE    FL               2/5/2021                $2,032,002
PRIVATEFLY LLC                          FORT LAUDERDALE    FL               4/2/2021                  $105,427
REVA INC.                               FORT LAUDERDALE    FL              2/17/2021                $3,812,595
SEABORNE VIRGIN ISLANDS INC.            HOLLYWOOD          FL               2/9/2021                $2,596,363
SILVER AIRWAYS LLC                      HOLLYWOOD          FL               2/9/2021                $9,266,015
SKY ONE HOLDINGS LLC                    BOCA RATON         FL              4/28/2021                $1,509,614
SOUTHERN AIRWAYS EXPRESS LLC            POMPANO BEACH      FL               3/9/2021                $5,283,706
SPIRIT AIRLINES INC.                    MIRAMAR            FL              1/15/2021              $212,130,753
SWIFT AIR LLC                           MIAMI              FL               3/2/2021               $12,386,673
TROPIC OCEAN AIRWAYS LLC                FORT LAUDERDALE    FL               2/5/2021                $1,174,375
WALKABOUT AIR INC                       TAMPA              FL               2/5/2021                      $98,017
WORLDWIDE AIRCRAFT SERVICES INC         TAMPA              FL               4/7/2021                  $595,576
XOJET AVIATION                          FORT LAUDERDALE    FL              2/17/2021               $10,271,765
AIRSTAR INC.                            BISHOP            GA                2/9/2021                  $212,894
CCM COMPANY HOLDINGS INC                LAWRENCEVILLE     GA                4/1/2021                $1,672,437
DELTA AIR LINES INC.                    ATLANTA           GA               1/15/2021            $3,290,410,981
ROTORWORKS LLC                          HIRAM             GA                2/3/2021                      $75,193
HAWAII PACIFIC AVIATION INC.            KAILUA KONA        HI              4/28/2021                  $542,073
HAWAIIAN AIRLINES INC.                  HONOLULU           HI              1/15/2021              $192,658,000
JACK HARTER HELICOPTERS INC             LIHUE              HI               2/5/2021                  $780,910
K&S HELICOPTERS INC                     KAILUA KONA        HI               2/3/2021                $1,248,147
MID-PACIFIC AIR SERVICE LLC             HONOLULU           HI              2/12/2021                  $122,172
NOVICTOR AVIATION LLC                   HONOLULU           HI              2/12/2021                  $279,385
PACIFIC HELICOPTER TOURS INC.           PU UNENE           HI              3/24/2021                  $450,792
SAFARI AVIATION INC.                    LIHUE              HI              6/30/2021                  $313,069
MIDWEST FLYING SERVICE INC.             SHELDON            IA               2/5/2021                      $51,612
AVCENTER INC                            POCATELLO          ID               3/9/2021                  $603,912
MCCALL AVIATION INC.                    MCCALL             ID              2/11/2021                  $156,032


                                                                                                              9
                        Participant1               City2   State   Agreement Date3      Payroll Support4
PRECISION AVIATION INC.                   KIMBERLY          ID               2/5/2021                      $64,222
AEROCARE MEDICAL TRANSPORT SYSTEMS INC.   SUGAR GROVE       IL               4/7/2021                  $777,401
AVIATION ADVISOR INC.                     ANTICOH           IL               3/9/2021                  $881,267
DUPAGE AEROSPACE CORPORATION              WEST CHICAGO      IL               4/2/2021                  $592,192
JET AIR INC.                              GALESBURG         IL              2/16/2021                  $788,798
NORTHERN ILLINOIS FLIGHT CENTER INC.      WHEELING          IL               2/1/2021                  $666,587
PRIESTER AVIATION LLC                     WHEELING          IL              2/11/2021                $2,875,536
UNITED AIRLINES INC.                      CHICAGO           IL              1/15/2021            $3,001,196,216
VALLEY AIR SERVICE INC.                   GENEVA            IL              3/11/2021                      $35,766
COLEMAN JET LLC                           GARY              IN              2/11/2021                  $194,583
FIRST WING MANAGEMENT LLC                 INDIANAPOLIS      IN               2/5/2021                  $367,277
REPUBLIC AIRWAYS INC.                     INDIANAPOLIS      IN              1/15/2021              $130,416,748
EXECUTIVE FLIGHT SERVICES LLC             LENEXA            KS              3/19/2021                $3,754,495
LYDDON AERO CENTER INC.                   LIBERAL           KS               5/7/2021                  $269,763
CREW AVIATION LLC                         LOUISVILLE       KY                2/9/2021                  $342,494
NEXGEN AVIATION LLC                       LEXINGTON        KY                2/9/2021                  $256,051
TRITON AIRWAYS LLC                        LEXINGTON        KY                3/5/2021                  $236,031
JPS AVIATION LLC                          MONROE           LA               2/26/2021                  $393,269
METRO AVIATION INC.                       SHREVEPORT       LA                2/1/2021               $28,065,812
ROTORCRAFT LEASING COMPANY LLC            BROUSSARD        LA               2/11/2021                $4,378,950
AIR-TAXI SERVICE AND SUPPORT LLC          BEDFORD          MA                4/5/2021                      $65,923
HYANNIS AIR SERVICE INC.                  HYANNIS          MA               3/24/2021               $14,025,959
KESTREL AVIATION INC.                     STOUGHTON        MA                5/7/2021                      $23,038
PRO AIRWAYS LLC.                          PLYMOUTH         MA                2/9/2021                  $392,376
SENTIENT JET CHARTER LLC                  QUINCY           MA               4/13/2021                $1,013,690
SENTIENT JET LLC                          QUINCY           MA                4/2/2021                $3,713,539
AVCENTER INC.                             POCATELLO         ID               3/9/2021                  $603,912
AVCENTER INC.                             POCATELLO         ID               3/9/2021                  $603,912
MCCALL AVIATION INC.                      MCCALL            ID              2/11/2021                  $156,032


                                                                                                              10
                        Participant1               City2   State   Agreement Date3      Payroll Support4
PRECISION AVIATION INC.                   KIMBERLY          ID               2/5/2021                      $64,222
AEROCARE MEDICAL TRANSPORT SYSTEMS INC.   SUGAR GROVE       IL               4/7/2021                  $777,401
AVIATION ADVISOR INC.                     ANTICOH           IL               3/9/2021                  $881,267
DUPAGE AEROSPACE CORPORATION              WEST CHICAGO      IL               4/2/2021                  $592,192
JET AIR INC.                              GALESBURG         IL              2/16/2021                  $788,798
NORTHERN ILLINOIS FLIGHT CENTER INC       WHEELING          IL               2/1/2021                  $666,587
PRIESTER AVIATION LLC                     WHEELING          IL              2/11/2021                $2,875,536
UNITED AIRLINES INC.                      CHICAGO           IL              1/15/2021            $3,001,196,216
VALLEY AIR SERVICE INC.                   GENEVA            IL              3/11/2021                      $35,766
COLEMAN JET LLC                           GARY              IN              2/11/2021                  $194,583
FIRST WING MANAGEMENT LLC                 INDIANAPOLIS      IN               2/5/2021                  $367,277
REPUBLIC AIRWAYS INC.                     INDIANAPOLIS      IN              1/15/2021              $130,416,748
EXECUTIVE FLIGHT SERVICES LLC             LENEXA            KS              3/19/2021                $3,754,495
LYDDON AERO CENTER INC.                   LIBERAL           KS               5/7/2021                  $269,763
CREW AVIATION LLC                         LOUISVILLE       KY                2/9/2021                  $342,494
NEXGEN AVIATION LLC                       LEXINGTON        KY                2/9/2021                  $256,051
TRITON AIRWAYS LLC                        LEXINGTON        KY                3/5/2021                  $236,031
JPS AVIATION LLC                          MONROE           LA               2/26/2021                  $393,269
METRO AVIATION INC.                       SHREVEPORT       LA                2/1/2021               $28,065,812
ROTORCRAFT LEASING COMPANY LLC            BROUSSARD        LA               2/11/2021                $4,378,950
AIR-TAXI SERVICE AND SUPPORT LLC          BEDFORD          MA                4/5/2021                      $65,923
HYANNIS AIR SERVICE INC.                  HYANNIS          MA               3/24/2021               $14,025,959
KESTREL AVIATION INC.                     STOUGHTON        MA                5/7/2021                      $23,038
PRO AIRWAYS LLC.                          PLYMOUTH         MA                2/9/2021                  $392,376
SENTIENT JET CHARTER LLC                  QUINCY           MA               4/13/2021                $1,013,690
SENTIENT JET LLC                          QUINCY           MA                4/2/2021                $3,713,539
SHORELINE AVIATION INC.                   MARSHFIELD       MA               3/24/2021                  $721,330
EAST COAST FLIGHT SERVICES. INC.          EASTON           MD               3/12/2021                  $162,130
GRANDVIEW AVIATION LLC                    MIDDLE RIVER     MD               3/30/2021                  $883,149


                                                                                                              11
                        Participant1                 City2   State   Agreement Date3      Payroll Support4
K&R AVIATION LLC DBA OPENAIR                GAITHERSBURG     MD                2/5/2021                      $93,540
SKYTECH TRAVEL LLC                          WESTMINSTER      MD               2/11/2021                  $255,896
TRIDENT AIRCRAFT INC.                       EASTON           MD               3/12/2021                  $514,211
ELITE AIRWAYS LLC                           PORTLAND         ME                2/1/2021                $6,825,440
MCPHILLIPS FLYING SERVICE INC.              CHARLEVOIX        MI              2/16/2021                  $198,452
NORTH COUNTRY AVIATION INC.                 GAYLORD           MI               4/5/2021                  $146,781
NORTHERN JET MANAGEMENT INC.                GRAND RAPIDS      MI              2/10/2021                $1,991,649
PARADIGM JET MANAGEMENT INC.                MUSKEGON          MI               2/5/2021                  $641,077
PENTASTAR AVIATION CHARTER INC.             WATERFORD         MI               2/9/2021                  $472,490
RAI JETS LLC                                STURGIS           MI              3/12/2021                  $176,720
TULIP CITY AIR SERVICE INC.                 HOLLAND           MI              4/14/2021                  $714,645
BRAINERD HELICOPTER SERVICES INC            BRAINERD         MN                4/5/2021                  $220,679
CLUB JET CHARTER LLC                        EDEN PRAIRIE     MN                2/1/2021                  $720,359
SCOTTS HELICOPTER SERVICES INC              LE SUEUR         MN               2/17/2021                  $611,109
SUN COUNTRY INC. DBA SUN COUNTRY AIRLINES   MINNEAPOLIS      MN                2/1/2021               $37,039,812
GOJET AIRLINES LLC                          BRIDGETON        MO                2/1/2021               $21,460,617
STAR MARIANAS AIR INC.                      TINIAN           MP               3/12/2021                  $827,414
SUMMIT AVIATION INC.                        BELGRADE         MT                2/1/2021                  $686,912
CAUSEY AVIATION SERVICE INC.                LIBERTY          NC                2/1/2021                  $678,805
DAVINCI JETS LLC                            CHARLOTTE        NC                4/5/2021                $1,795,156
EXCLUSIVE JETS LLC                          KINSTON          NC               3/24/2021                $4,791,833
FLIGHTGEST AVIATION LLC                     MORRISVILLE      NC                5/7/2021                  $813,036
FLYCAROLINA LLC                             CHARLOTTE        NC                3/9/2021                  $230,714
JEM AIR HOLDINGS LLC                        RALEIGH          NC               2/11/2021                  $110,516
SKY NIGHT LLC                               KINSTON          NC               4/28/2021                  $216,102
EXECUTIVE AIR TAXI CORPORATION              BISMARCK         ND               2/12/2021                  $429,441
JET LINX AVIATION LLC                       OMAHA            NE                2/9/2021               $13,944,067
EAST COAST FLIGHT SERVICES. INC.            EASTON           MD               3/12/2021                  $162,130
GRANDVIEW AVIATION LLC                      MIDDLE RIVER     MD               3/30/2021                  $883,149


                                                                                                                12
                        Participant1                 City2   State   Agreement Date3      Payroll Support4
K&R AVIATION LLC DBA OPENAIR                GAITHERSBURG     MD                2/5/2021                      $93,540
SKYTECH TRAVEL LLC                          WESTMINSTER      MD               2/11/2021                  $255,896
TRIDENT AIRCRAFT INC.                       EASTON           MD               3/12/2021                  $514,211
ELITE AIRWAYS LLC                           PORTLAND         ME                2/1/2021                $6,825,440
MCPHILLIPS FLYING SERVICE INC.              CHARLEVOIX        MI              2/16/2021                  $198,452
NORTH COUNTRY AVIATION INC.                 GAYLORD           MI               4/5/2021                  $146,781
NORTHERN JET MANAGEMENT INC.                GRAND RAPIDS      MI              2/10/2021                $1,991,649
PARADIGM JET MANAGEMENT INC.                MUSKEGON          MI               2/5/2021                  $641,077
PENTASTAR AVIATION CHARTER INC.             WATERFORD         MI               2/9/2021                  $472,490
RAI JETS LLC                                STURGIS           MI              3/12/2021                  $176,720
TULIP CITY AIR SERVICE INC                  HOLLAND           MI              4/14/2021                  $714,645
BRAINERD HELICOPTER SERVICES INC            BRAINERD         MN                4/5/2021                  $220,679
CLUB JET CHARTER LLC                        EDEN PRAIRIE     MN                2/1/2021                  $720,359
SCOTTS HELICOPTER SERVICES INC              LE SUEUR         MN               2/17/2021                  $611,109
SUN COUNTRY INC. DBA SUN COUNTRY AIRLINES   MINNEAPOLIS      MN                2/1/2021               $37,039,812
GOJET AIRLINES LLC                          BRIDGETON        MO                2/1/2021               $21,460,617
STAR MARIANAS AIR INC.                      TINIAN           MP               3/12/2021                  $827,414
SUMMIT AVIATION INC.                        BELGRADE         MT                2/1/2021                  $686,912
CAUSEY AVIATION SERVICE INC.                LIBERTY          NC                2/1/2021                  $678,805
DAVINCI JETS LLC                            CHARLOTTE        NC                4/5/2021                $1,795,156
EXCLUSIVE JETS LLC                          KINSTON          NC               3/24/2021                $4,791,833
FLIGHTGEST AVIATION LLC                     MORRISVILLE      NC                5/7/2021                  $813,036
FLYCAROLINA LLC                             CHARLOTTE        NC                3/9/2021                  $230,714
JEM AIR HOLDINGS LLC                        RALEIGH          NC               2/11/2021                  $110,516
SKY NIGHT LLC                               KINSTON          NC               4/28/2021                  $216,102
EXECUTIVE AIR TAXI CORPORATION              BISMARCK         ND               2/12/2021                  $429,441
JET LINX AVIATION LLC                       OMAHA            NE                2/9/2021               $13,944,067
TREGO DUGAN AVIATION INC.                   NORTH PLATTE     NE               2/17/2021                  $486,680
AIR NEW ENGLAND LLC                         PORTSMOUTH       NH                5/7/2021                      $58,002


                                                                                                                13
                       Participant1                  City2       State   Agreement Date3      Payroll Support4
COBALT AIR LLC                                PORTSMOUTH         NH                2/5/2021                $4,795,141
ELEVATE JET. LLC                              SEABROOK           NH                2/5/2021                  $510,332
JOE BRIGHAM INC.                              PEMBROKE           NH                4/5/2021                  $669,395
JET CHARTER INC.                              OAKLAND             NJ              4/12/2021                  $367,920
SUNNYFIELD AVIATION ASSOCIATES LLC            MORRISTOWN          NJ               2/9/2021                      $70,617
MED FLIGHT AIR AMBULANCE INC.                 ALBUQUERQUE        NM               4/15/2021                  $473,661
ALLEGIANT AIR LLC                             LAS VEGAS          NV               1/15/2021              $105,521,953
EL AERO SERVICES LLC                          ELKO               NV               2/11/2021                  $284,681
GREAT WESTERN AIR LLC                         LAS VEGAS          NV               2/25/2021                $1,301,346
STEELMAN AVIATION INC                         LAS VEGAS          NV               3/24/2021                  $349,159
ALTIUS AVIATION LLC                           SYRACUSE           NY                3/9/2021                  $223,971
GO AVIATION INC.                              SARANAC LAKE       NY                2/5/2021                  $113,994
HOPSCOTCH AIR INC                             WHITE PLAINS       NY                2/5/2021                      $78,582
JETBLUE AIRWAYS CORPORATION                   LONG ISLAND CITY   NY               1/15/2021              $580,235,932
MERCY FLIGHT CENTRAL INC.                     CANANDAIGUA        NY                2/5/2021                $1,020,371
NORTHEASTERN AVIATION CORP.                   FARMINGDALE        NY               2/16/2021                $1,300,028
PIONEER BUSINESS SERVICES LLC                 NEWBURGH           NY               3/24/2021                  $770,682
TAILWIND AIR LLC                              RYE BROOK          NY                2/3/2021                  $500,015
TALON AIR LLC                                 FARMINGDALE        NY               3/11/2021                $3,621,095
THUNDERUN AVIATION CORPORATION                GLENWOOD           NY                2/1/2021                  $136,732
UNDERHILL HOLDINGS LLC                        SCARSDALE          NY               10/5/2021                  $486,705
VENTURA AIR SERVICES INC.                     FARMINGDALE        NY                2/3/2021                  $369,248
WINGS AIR LLC DBA WINGS AIR HELICOPTERS LLC   HARRISON           NY                2/5/2021                  $139,131
AITHERAS AVIATION GROUP LLC                   CLEVELAND          OH               3/29/2021                  $781,637
CAPITAL CITY JET CENTER INC                   COLUMBUS           OH               2/17/2021                  $238,330
CHAMPLAIN ENTERPRISES LLC                     NORTH OLMSTED      OH               4/13/2021               $24,293,556
CROW EXECUTIVE AIR INC                        MILLBURY           OH                4/7/2021                  $131,463
FLEXJET LLC                                   CLEVELAND          OH                4/2/2021               $49,739,156
SKY QUEST LLC                                 CLEVELAND          OH                2/5/2021                $1,532,007


                                                                                                                    14
                        Participant1               City2   State   Agreement Date3      Payroll Support4
AMERICAN JET CHARTER INC.                 BETHANY          OK                2/5/2021                  $106,124
OKLAHOMA AVIATION LLC                     BETHANY          OK                4/1/2021                  $188,775
OMNI AIR INTERNATIONAL LLC                TULSA            OK                2/3/2021               $43,020,433
COLUMBIA HELICOPTERS INC.                 AURORA           OR               2/11/2021               $23,234,847
GLOBAL AVIATION INC.                      HILLSBORO        OR               2/11/2021                $1,118,321
PACJET INC                                GRANTS PASS      OR               3/29/2021                      $38,329
PRECISION LLC                             MCMINNVILLE      OR                2/1/2021                  $997,402
PREMIER JETS INC.                         HILLSBORO        OR               4/19/2021                  $769,887
AIRCRAFT MANAGEMENT GROUP                 MOON TOWNSHIP     PA               2/5/2021                  $819,449
CORPORATE AIR LLC                         WEST MIFFLIN      PA               3/9/2021                $1,904,079
EAST COAST JETS INC                       ALLENTOWN         PA               3/9/2021                  $552,583
EASTERN AIRLINES LLC                      WAYNE             PA               2/9/2021                $5,604,524
HOLMAN LEASING SYSTEMS INC                ZELIENOPLE        PA               2/5/2021                  $539,703
L.J. ASSOCIATES INC.                      LATROBE           PA               2/5/2021                $2,158,013
PUBLIC CHARTERS INC.                      AVOCA             PA               2/1/2021                      $72,885
TRUE AVIATION CHARTER SERVICES LLC        GOULDSBORO        PA               3/9/2021                  $283,239
M&N AVIATION INC.                         CAROLINA          PR               2/9/2021                  $189,101
VIEQUES AIR LINK INC.                     VIEQUES           PR               2/9/2021                  $442,555
EXCELAIRE LLC                             CHARLESTON        SC               5/7/2021                $1,579,623
HEARTLAND LLC                             CHARLESTON        SC               5/7/2021                  $333,803
HELICOPTER SOLUTIONS INC.                 MYRTLE BEACH      SC               3/2/2021                  $328,999
JET LOGISTICS INC.                        JOHNS ISLAND      SC               2/5/2021                  $538,819
VENTURE AVIATION GROUP LLC                GREER             SC              7/22/2021                  $295,799
ABERDEEN FLYING SERVICE                   ABERDEEN          SD              2/10/2021                  $163,414
CAPITAL CITY AIR CARRIER INC.             PIERRE            SD               2/9/2021                  $214,278
AIRCRAFT CHARTER MANAGEMENT EXPERTS LLC   NASHVILLE        TN               10/5/2021                  $458,844
CORPORATE FLIGHT MANAGEMENT INC.          SMYRNA           TN                3/9/2021                $4,654,188
HESSJET LLC                               MCDONALD         TN                2/3/2021                      $67,601
JETRIGHT AEROSPACE HOLDINGS LLC           NASHVILLE        TN               3/29/2021                  $548,012


                                                                                                              15
                      Participant1                    City2   State   Agreement Date3      Payroll Support4
AIR CENTER HELICOPTER INC.                   BURLESON         TX               3/24/2021                $6,432,457
ALAMO HELICOPTER TOURS SAN ANTONIO LLC       SAN ANTONIO      TX                2/1/2021                      $16,295
AMERICAN AIRLINES INC.                       FORT WORTH       TX               1/15/2021            $3,549,766,770
AMERICAN JET INTERNATIONAL CORP              HOUSTON          TX                2/9/2021                $1,001,367
AVALAIR AIRCRAFT MANAGEMENT LLC              HOUSTON          TX                2/3/2021                  $236,116
CAPITAL JET INC.                             HOUSTON          TX               3/16/2021                      $63,007
CAREFLITE                                    GRAND PRAIRIE    TX                2/9/2021               $10,271,421
CHAIRMAN AIRMOTIVE II LLC                    COLLEYVILLE      TX               5/21/2021                  $119,428
COCKRELL RESOURCES INC.                      HOUSTON          TX               3/16/2021                $1,120,219
DELUX PUBLIC CHARTER LLC                     DALLAS           TX                4/7/2021                $6,235,570
HASKIN AVIATION LLC                          MIDLAND          TX                2/5/2021                  $115,045
MENAGERIE ENTERPRISES INC                    ADDISON          TX                4/1/2021                  $277,801
MOUNTAIN HIGH AVIATION LLC                   SAN ANTONIO      TX                3/2/2021                      $86,562
NORTH DALLAS AVIATION INC.                   ADDISON          TX               2/18/2021                  $250,792
OHARA AVIATION MANAGEMENT SERVICES L.C.      MCKINNEY         TX                3/1/2021                $1,325,973
PLANESMART! CHARTER LLC                      ADDISON          TX               5/21/2021                  $312,712
RR INVESTMENTS INC. DBA MILLION AIR DALLAS   ADDISON          TX                2/5/2021                $2,789,545
SOUTHWEST AIRLINES CO.                       DALLAS           TX               1/15/2021            $1,986,475,960
STARFLITE MANAGEMENT GROUP INC               HOUSTON          TX               2/17/2021                  $579,634
STERLING AIR SERVICE LLC                     CORPUS CHRISTI   TX                2/9/2021                  $299,667
STEWART DARYL G DBA CHARTER ONE              HOUSTON          TX               3/24/2021                  $109,994
SUPERIOR AIR CHARTER LLC                     DALLAS           TX                4/7/2021                $4,386,444
TEM ENTERPRISES                              HOUSTON          TX               6/23/2021                  $700,917
THUNDERBIRD AIRWAYS INC.                     HOUSTON          TX               2/17/2021                      $23,982
TIDAL AVIATION LLC                           BROOKSHIRE       TX               4/19/2021                  $193,733
TODDCOE ENTERPRISES LLC                      NEW BRAUNFELS    TX                2/9/2021                      $89,714
TOWER AVIATION MANAGEMENT LLC DBA A2V        PFLUGERVILLE     TX                2/5/2021                  $180,915
WING AVIATION CHARTER SERVICES LLC           HOUSTON          TX                2/9/2021                $3,299,507
WORLD CLASS JET LLC                          DALLAS           TX                2/9/2021                  $559,442


                                                                                                                 16
                              Participant1                                         City2             State       Agreement Date3               Payroll Support4
 AMERICAN AVIATION INC.                                                  WOODS CROSS                  UT                   3/24/2021                           $190,269
 REDTAIL AIR INC.                                                        MOAB                         UT                    4/7/2021                           $279,223
 SKYWEST AIRLINES INC.                                                   ST. GEORGE                   UT                   1/15/2021                       $268,069,807
 CHANTILLY AIR INC.                                                      MANASSAS                     VA                   4/19/2021                         $1,084,250
 DOMINION AVIATION SERVICES INC.                                         RICHMOND                     VA                   3/29/2021                           $985,864
 MARTINAIR INC.                                                          RICHMOND                     VA                    3/9/2021                           $757,172
 BOHLKE LLC                                                              ST. CROIX                    VI                   4/19/2021                           $874,877
 ALASKA AIRLINES INC.                                                    SEATTLE                      WA                   1/15/2021                       $612,685,500
 ISLAND AIR INC.                                                         FRIDAY HARBOR                WA                    3/5/2021                           $344,939
 KENMORE AIR HARBOR LLC                                                  KENMORE                      WA                   3/11/2021                         $1,979,970
 RITE BROS. AVIATION INC.                                                PORT ANGELES                 WA                    3/9/2021                           $108,371
 SAN JUAN AIRLINES (RUGBY AVIATION LLC)                                  BELLINGHAM                   WA                   2/11/2021                           $244,740
 AIR WISCONSIN AIRLINES LLC                                              APPLETON                     WI                   3/24/2021                        $35,733,867
 CHEMAIR HELICOPTERS INC.                                                JEFFERSON                    WI                   3/24/2021                              $98,876
 JET OUT LLC                                                             MILWAUKEE                    WI                    2/2/2021                              $89,853
 RED WING AEROPLANE LLC                                                  BAY CITY                     WI                    3/1/2021                         $1,878,582
 SC AVIATION INC.                                                        MONROE                       WI                   2/23/2021                         $3,213,228
 WISCONSIN AVIATION INC.                                                 WATERTOWN                    WI                   7/16/2021                           $318,149
 MOUNTAIN AIR SERVICES LLC                                               MORGANTOWN                   WV                   3/31/2021                              $69,725
1.   In certain cases where multiple affiliated entities were approved as eligible recipients, only one affiliate or a parent company is listed.
2.   The location provided is the city and state included by the participant in its application and may not include all locations in which the participant operates.
3.   Agreement Date refers to the date that the PSP2 Agreement was fully executed.
4.   Payroll Support refers to the PSP2 awardable amount as of the date of this report.




                                                                                                                                                                       17
     Table 2 – PSP2 Contractors


                        Participant1                City2   State   Agreement Date3     Payroll Support4
BAC TRANSPORTATION LLC                     ANCHORAGE        AK               3/2/2021                  $416,111
OMNI LOGISTICS INC.                        FAIRBANKS        AK              3/19/2021                  $152,237
GLOBAL K9 PROTECTION GROUP LLC             OPELIKA           AL             3/11/2021                $1,199,661
SOUTHERN SKY AVIATION MAINTENANCE LLC      BIRMINGHAM        AL             2/17/2021                  $327,483
VT MOBILE AEROSPACE ENGINEERING INC        MOBILE            AL              4/7/2021                $8,118,358
BIRD ACQUISITION LLC                       PHOENIX           AZ             3/19/2021                $2,006,192
AERO PORT SERVICESINC                      LOS ANGELES      CA               4/5/2021                      $89,260
AIRLINE COACH SERVICE LLC                  SAN FRANCISCO    CA              4/19/2021                      $95,829
AIRPORT TERMINAL MANAGEMENT INC            INGLEWOOD        CA               3/1/2021                $5,405,401
AMI INFLIGHT INC                           SANTA MONICA     CA               4/1/2021                  $254,732
AMI WINES LLC                              SANTA MONICA     CA              2/26/2021                      $63,243
CALOP BUSINESS SYSTEMS INC.                LOS ANGELES      CA              5/21/2021                $1,851,927
COMAV TECHNICAL SERVICES LLC               VICTORVILLE      CA               3/2/2021                $1,126,878
HAWKER PACIFIC AEROSPACE                   SUN VALLEY       CA               3/2/2021                $3,887,536
IDA FOODS LLC                              SANTA MONICA     CA              3/24/2021                  $137,462
INTERNATIONAL AEROSPACE COATINGS INC       IRVINE           CA              3/11/2021                $3,780,287
JEREMIAH PHILLIPS LLC                      BURLINGAME       CA              4/19/2021                  $539,016
KAISERAIR INC.                             OAKLAND          CA               4/5/2021                  $739,452
NEW SONOMA FBO INC.                        SANTA ROSA       CA              3/16/2021                  $279,671
PACIFIC AVIATION LLC                       EL SEGUNDO       CA              4/28/2021                $5,516,051
PANASONIC AVIONICS CORPORATION             LAKE FOREST      CA               2/3/2021               $52,728,182
S A S SERVICES GROUP INC                   EL SEGUNDO       CA              5/12/2021                $3,452,136
SACRAMENTO INTERNATIONAL JET CENTER INC.   SACRAMENTO       CA               4/7/2021                  $503,282
SIA ENGINEERING (USA) INC                  LOS ANGELES      CA              3/12/2021                $1,613,365
SPRINGSHOT INC.                            SAN FRANCISCO    CA              3/24/2021                  $573,765
THE LANDLINE COMPANY                       HAWTHORNE        CA              3/12/2021                  $166,218



                                                                                                             18
                       Participant1                         City2   State   Agreement Date3     Payroll Support4
THOMAS GLOBAL SYSTEMS LLC                         IRVINE            CA              3/12/2021                  $236,167
ECOSERVICES LLC                                   WETHERSFIELD       CT              4/7/2021                  $768,395
PASSUR AEROSPACE INC.                             STAMFORD           CT              3/5/2021                $1,309,858
DUMONT AVIATION LLC                               NEW CASTLE        DE              4/14/2021                  $868,153
AEROTECH MIAMI INC.                               MIAMI              FL              3/2/2021                $1,438,936
AERSALE INC                                       CORAL GABLES       FL              3/9/2021                $5,535,985
ALX CARGO CENTER IAH LLC                          ORLANDO            FL              3/2/2021                  $234,208
AMERICAN SALES AND MANAGEMENT ORGANIZATION INC.   MIAMI              FL              3/2/2021               $11,258,054
AVIATION CONCEPTS INC                             SUNRISE            FL             5/21/2021                  $264,371
AVIATION MAIN SERVICESINC                         MIAMI              FL             3/16/2021                  $298,717
BARFIELD INC.                                     MIAMI              FL             3/29/2021                $3,465,183
F&E AIRCRAFT MAINTENANCE (MIAMI) LLC              MIAMI SPRINGS      FL              3/2/2021                $7,942,747
FLIGHTSTAR AIRCRAFT SERVICES LLC                  JACKSONVILLE       FL             3/12/2021                $6,796,739
FUEL FX INC                                       CRESTVIEW          FL              3/5/2021                      $72,564
GROUND SERVICES INTERNATIONAL INCORPORATED        ORLANDO            FL              3/2/2021               $15,324,430
IAERO THRUST LLC                                  MIAMI              FL              3/2/2021                $2,105,162
IAG ENGINE FIELD SERVICES LLC                     MIAMI              FL             4/19/2021                  $171,768
JETSCAPE SERVICE LLC                              FORT LAUDERDALE    FL             3/11/2021                  $174,783
JETSTREAM GROUND SERVICES INC.                    JUPITER            FL             2/17/2021                $5,721,352
MIAMI NDT ENGINE SERVICES LLC                     DORAL              FL             4/28/2021                  $688,023
ORLANDO SANFORD INTERNATIONAL INC.                SANFORD            FL              4/7/2021                $1,238,985
STS AVIATION SERVICES - TANK TIGERS INC.          JENSEN BEACH       FL              4/7/2021                $8,018,351
TAMPA AIRPORT PIPELINE CORPORATION                SARASOTA           FL             6/23/2021                      $93,363
TOTAL AIR SERVICES INC.                           MIAMI              FL              4/7/2021                      $17,146
TURBINE ENGINE CENTER INC                         MEDLEY             FL             8/16/2021                  $985,566
ULTRA AVIATION SERVICES INC.                      MIAMI              FL             3/11/2021                $2,778,827
XTREME AVIATION LLC                               OPA LOCKA          FL              3/5/2021                $1,032,274
BARFIELD PRECISION ELECTRONICS LLC                ATLANTA           GA              3/29/2021                  $803,684
GAT AIRLINE GROUND SUPPORT INC.                   PEACHTREE CITY    GA              2/26/2021               $11,866,920


                                                                                                                     19
                       Participant1                      City2   State   Agreement Date3     Payroll Support4
QUANTUM AVIATION SOLUTIONS INC.                 DULUTH           GA              3/12/2021                  $120,709
ACTS-AVIATION SECURITY INC.                     DES PLAINES       IL              3/2/2021                $4,723,124
ARIES SHUTTLE CHICAGO LLC                       DES PLAINES       IL              3/9/2021                  $600,795
BYERLY AVIATION                                 PEORIA            IL             3/29/2021                  $130,051
FLIGHT CHECK COMMERCIAL AVIATION SERVICES LLC   BENSENVILLE       IL             3/11/2021                $1,510,148
FLYING FOOD GROUP LLC                           CHICAGO           IL             3/12/2021               $18,591,820
GAITROS AVIATION LLC                            DECATUR           IL              3/9/2021                      $25,432
MICHAEL LEWIS COMPANY                           MCCOOK            IL             2/17/2021                $2,786,537
ORD LIFT & GSE INC                              SCHILLER PARK     IL             3/12/2021                  $165,114
PROSPECT AIRPORT SERVICES INC.                  DES PLAINES       IL             6/23/2021               $31,947,078
QCIA AIRPORT SERVICES LLC                       MOLINE            IL             3/19/2021                  $133,036
SPRINGFIELD AIRPORT AUTHORITY                   SPRINGFIELD       IL              4/7/2021                      $72,522
THE FLIGHTSTAR CORPORATION                      SAVOY             IL             3/19/2021                $1,558,114
B. COLEMAN AVIATION LLC                         GARY              IN             4/15/2021                  $139,289
BMG AVIATION INC                                BLOOMINGTON       IN              4/7/2021                      $49,641
TRI-STATE AERO                                  EVANSVILLE        IN             2/17/2021                  $230,470
COLONIAL AIR INC                                NEW BEDFORD      MA              3/24/2021                      $43,745
BAY LAND AVIATION INC                           SALISBURY        MD              4/13/2021                      $36,183
MRA SYSTEMS LLC                                 BALTIMORE        MD              4/13/2021               $14,430,178
LCL ASSOCIATE                                   PORTLAND         ME              5/21/2021                  $292,975
NORTHEAST AIR                                   PORTLAND         ME              5/21/2021                  $342,122
AVFLIGHT AKRON CANTON CORPORATION               ANN ARBOR         MI             3/16/2021                  $109,721
AVFLIGHT COLUMBUS CORPORATION                   ANN ARBOR         MI             3/29/2021                      $57,202
AVFLIGHT DURANGO CORPORATION                    ANN ARBOR         MI             3/16/2021                      $90,774
AVFLIGHT FLINT CORPORATION                      ANN ARBOR         MI             3/16/2021                  $100,139
AVFLIGHT GRAND FORKS CORPORATION                ANN ARBOR         MI             3/16/2021                      $92,605
AVFLIGHT GUNNISON CORPORATION                   ANN ARBOR         MI             3/29/2021                   $66,753
AVFLIGHT HARRISBURG CORPORATION                 ANN ARBOR         MI             3/16/2021                  $217,753
AVFLIGHT LANSING CORPORATION                    ANN ARBOR         MI             3/16/2021                  $190,512



                                                                                                                  20
                      Participant1                     City2   State   Agreement Date3     Payroll Support4
AVFLIGHT MILWAUKEE CORPORATION              ANN ARBOR           MI             3/16/2021                  $112,203
AVFLIGHT MINOT CORPORATION                  ANN ARBOR           MI             3/16/2021                      $97,136
AVFLIGHT MONROE CORPORATION                 ANN ARBOR           MI             3/29/2021                      $83,287
AVFLIGHT ROCHESTER CORPORATION              ANN ARBOR           MI             3/16/2021                  $158,058
AVFLIGHT ROSWELL CORPORATION                ANN ARBOR           MI             3/16/2021                  $142,546
AVFLIGHT SAGINAW CORPORATION                ANN ARBOR           MI             3/16/2021                  $140,943
AVFLIGHT SALINA CORPORATION                 ANN ARBOR           MI             3/16/2021                      $79,902
AVFLIGHT SERVICES CORPORATION               ANN ARBOR           MI             3/16/2021                  $491,952
AVFLIGHT TRAVERSE CITY CORPORATION          ANN ARBOR           MI             3/16/2021                  $129,517
AVFLIGHT WILLOW RUN CORPORATION             ANN ARBOR           MI             3/16/2021                  $109,680
AVFUEL CORPORATION                          ANN ARBOR           MI             3/16/2021                $1,970,616
EXECUTIVE AIR TRANSPORT INC.                MUSKEGON            MI             3/16/2021                  $228,812
MONACO AIR DULUTH LLC                       DULUTH             MN               3/9/2021                  $217,270
SMARTE CARTE INC.                           ST. PAUL           MN               3/9/2021                $6,471,303
AIRPORT TERMINAL SERVICES INC               ST. LOUIS          MO               3/2/2021               $14,653,712
BRANSON AIRPORT LLC                         HOLLISTER          MO              3/19/2021                  $226,023
MISSOULA COUNTY AIRPORT AUTHORITY           MISSOULA           MT               3/9/2021                      $78,212
HAECO AIRFRAME SERVICES LLC                 GREENSBORO         NC              2/17/2021               $15,698,743
HAECO AMERICAS LINE SERVICES LLC            GREENSBORO         NC              2/17/2021                  $194,215
LATITUDE AERO LLC                           GREENSBORO         NC              2/17/2021                      $65,710
NATIONAL AVIATION SERVICES LLC.             MOORESVILLE        NC               3/5/2021                $3,593,099
NORTH STATE AVIATION HOLDINGS LLC           WINSTON-SALEM      NC              3/24/2021                  $722,341
SWISSPORT USA INC.                          RALEIGH            NC               2/4/2021               $60,545,677
BISMARCK AERO CENTER CORPORATION            BISMARCK           ND              2/17/2021                  $252,455
TREGO DUGAN AVIATION OF GRAND ISLAND INC.   GRAND ISLAND       NE              2/17/2021                $3,014,156
AIR GENERAL INC.                            PORTSMOUTH         NH              2/23/2021                $4,625,670
PORT CITY AIR INC                           PORTSMOUTH         NH               5/7/2021                  $652,156
PRIVATE JET SERVICES GROUP LLC              SEABROOK           NH              4/28/2021                  $650,730
OMNI SERV LLC                               NEWARK              NJ             3/30/2021                $2,554,267

                                                                                                                21
                       Participant1                 City2   State   Agreement Date3     Payroll Support4
JET CENTER AT SANTA FE OPERATIONS LLC.     SANTA FE         NM              2/18/2021                  $120,969
SANTA FE AERO SERVICES LLC                 SANTA FE         NM              2/17/2021                      $51,601
MOUNTAIN WEST EKO LLC                      ELKO             NV               3/9/2021                      $38,276
ALLIED NEW YORK SERVICES INC.              NEW YORK         NY               6/3/2021               $15,755,055
BORENSTEIN CATERERS INC                    JAMAICA          NY               8/6/2021                $1,104,551
DNATA US INFLIGHT CATERING LLC             WHITE PLAIN      NY               3/2/2021                $5,025,490
DO & CO NEW YORK CATERING INC              JAMAICA          NY              4/28/2021                $4,906,752
FORTBRAND SERVICES LLC                     PLAINVIEW        NY              3/31/2021                  $303,674
GLOBAL AVIATION MANAGEMENT GROUP CORP.     GARDEN CITY      NY               3/2/2021                  $526,192
GLOBAL SECURITY CONSULTING GROUP INC.      GARDEN CITY      NY              3/29/2021                $3,204,643
LODGING SOLUTIONS LLC                      MELVILLE         NY               7/8/2021                $2,600,272
MACH II MAINTENANCE CORP                   JAMAICA          NY              3/19/2021                  $725,336
PACIFIC ATLANTIC HANDLING SERVICES LLC     JAMAICA          NY              3/24/2021                  $363,014
PAX ASSIST INC                             JAMAICA          NY              2/26/2021                $3,047,956
PREMIER AVIATION LLC                       HORSEHEADS       NY              2/23/2021                      $42,793
TAUGHANNOCK AVIATION CORP                  ITHACA           NY              2/17/2021                  $305,494
TRIANGLE AVIATION SERVICES INC             VALLEY STREAM    NY               3/5/2021                  $592,913
TRIANGLE SERVICES OF FLORIDA INC           VALLEY STREAM    NY               3/5/2021                $2,789,243
USAIRPORTS FLIGHT SUPPORT LLC              ROCHESTER        NY               4/1/2021                  $391,199
WORLDWIDE FLIGHT SERVICES INC.             JAMAICA          NY               2/3/2021               $45,622,544
CONSTANT AVIATION LLC                      CLEVELAND        OH              2/17/2021               $10,149,987
FLIGHT SERVICES AND SYSTEMS                CLEVELAND        OH               3/9/2021                $3,688,867
WINNER AVIATION CORPORATION                VIENNA           OH               5/7/2021                  $340,885
LUFTHANSA TECHNIK COMPONENT SERVICES LLC   TULSA            OK               3/2/2021                $7,227,924
THE NORDAM GROUP LLC                       TULSA            OK              3/12/2021               $23,566,555
LEADING EDGE JET CENTER LLC.               REDMOND          OR              3/11/2021                  $121,618
METAL INNOVATIONS INC.                     AURORA           OR              2/23/2021                  $231,383
AVIATION TECHNOLOGIES INC.                 AVOCA             PA              3/9/2021                  $253,680
LUFTHANSA TECHNIK PUERTO RICO              AGUADILLA         PR              3/2/2021                $2,531,163


                                                                                                             22
                         Participant1              City2   State   Agreement Date3     Payroll Support4
EAGLE AVIATION INC.                      WEST COLUMBIA      SC             5/21/2021                  $691,875
HAWTHORNE GLOBAL AVIATION SERVICES LLC   CHARLESTON         SC              5/7/2021                $1,088,385
WESTJET AIR CENTER INC                   RAPID CITY         SD             3/12/2021                      $60,118
JETRIGHT AVIATION MAINTENANCE LLC        NASHVILLE         TN              3/29/2021                  $208,319
247 ON SITE LLC                          CORPUS CHRISTI    TX              2/17/2021                      $36,130
ABILENE AERO INC.                        ABILENE           TX               3/9/2021                  $506,616
ACCUFLEET INTERNATIONAL INC.             HOUSTON           TX              3/29/2021                $1,669,641
AIR WILMINGTON INC                       AMARILLO          TX              3/11/2021                  $294,434
ARIES SHUTTLE-DALLAS LLC                 HURST             TX               4/7/2021                  $371,236
CLEAREDDIRECT LLC                        AUSTIN            TX               4/7/2021                  $585,270
FOUR POINTS AERO SERVICES LLC            DALLAS            TX              3/11/2021                  $272,818
G2 SECURE STAFF L.L.C.                   IRVING            TX              2/23/2021               $35,486,578
GULFPORT AVIATION PARTNERS LLC           HOUSTON           TX               3/9/2021                      $62,222
HOUSTON AVIATION PARTNERS                HOUSTON           TX               3/9/2021                  $358,095
HUNTLEIGH USA CORPORATION                IRVING            TX               3/1/2021                $5,966,616
INDIANAPOLIS AVIATION PARTNERS LLC       HOUSTON           TX               3/9/2021                      $98,793
MENZIES AVIATION (USA) INC               DALLAS            TX               2/3/2021               $48,451,415
PRIMEFLIGHT AVIATION SERVICES INC.       SUGAR LAND        TX              3/12/2021               $26,347,337
QT TECHNOLOGIES LLC                      FARMERS BRANCH    TX              3/16/2021                  $334,356
SAFETECH USA INC                         HUMBLE            TX              4/14/2021                  $693,392
SEMCO AEROSPACE TX LLC                   CAROLLTON         TX              4/14/2021                  $283,761
SKY CHEFS INC.                           IRVING            TX               3/2/2021               $93,392,267
T AERO II LLC                            WACO              TX              2/23/2021                  $316,719
TALLAHASSEE AVIATION PARTNERS LLC        HOUSTON           TX               3/9/2021                      $92,966
TOTAL AIRPORT SERVICES LLC               SPRING            TX              3/12/2021                $8,263,957
VT SAN ANTONIO AEROSPACE INC             SAN ANTONIO       TX               4/7/2021                $6,255,245
AERO INDUSTRIES INCORPORATED             RICHMOND          VA               3/9/2021                  $207,137
COMMONWEALTH AVIATION SERVICE INC.       RICHMOND          VA              2/17/2021                  $379,105
GATE GOURMET INC                         RESTON            VA               2/9/2021               $74,750,674



                                                                                                            23
                                Participant1                                         City2              State      Agreement Date3               Payroll Support4
     PROSEGUR SERVICES GROUP INC.                                          HERNDON                       VA                  3/19/2021                          $9,866,032
     RICHMOND JET CENTER INC.                                              RICHMOND                      VA                   3/9/2021                            $127,682
     HERITAGE AVIATION INC                                                 SOUTH BURLINGTON              VT                   3/2/2021                            $636,130
     AVIATION TECHNICAL SERVICES                                           EVERETT                      WA                    3/5/2021                         $17,390,454
     BELLINGHAM AVIATION SERVICES LLC                                      BELLINGHAM                   WA                   3/16/2021                            $100,146
     FLITELINE SERVICES INC.                                               EVERETT                      WA                   3/11/2021                            $106,948
     INTER-STATE AVIATION INC.                                             PULLMAN                      WA                   3/29/2021                              $54,493
     MCGEE AIR SERVICES                                                    RENTON                       WA                    2/5/2021                         $12,988,516
     PACKERLAND AVIATION LLC                                               GREEN BAY                     WI                  3/29/2021                            $193,656
     WISCONSIN AVIATION – FOUR LAKES INC                                   MADISON                       WI                  7/16/2021                            $557,785
     MHI RJ AVIATION INC.                                                  BRIDGEPORT                   WV                   3/30/2021                         $10,195,175
1.    In certain cases where multiple affiliated entities were approved as eligible recipients, only one affiliate or a parent company is listed.
2.    The location provided is the city and state included by the participant in its application and may not include all locations in which the participant operates.
3.    Agreement Date refers to the date that the PSP2 Agreement was fully executed.
4.    Payroll Support refers to the PSP2 awardable amount as of the date of this report.




                                                                                                                                                                        24
    Appendix B: PSP2 Participants Providing Instruments (Notes or Warrants) as Taxpayer Compensation
         Passenger Air Carrier                                                                              Note Principal         Number of         Warrant Exercise
             Participants 1               City 2         State   Agreement Date 3     Payroll Support 4       Amount 5             Warrants 6            Price 7
    FRONTIER AIRLINES INC             DENVER              CO           1/15/2021          $161,083,131          $18,324,939             157,313                 $11.65
    SPIRIT AIRLINES INC.              MIRAMAR             FL           1/15/2021          $212,130,753          $33,639,226             137,753                 $24.42
    DELTA AIR LINES INC.              ATLANTA             GA              1/15/2021      $3,290,410,981         $957,123,294            2,409,070               $39.73
    HAWAIIAN AIRLINES INC.            HONOLULU            HI              1/15/2021       $192,658,000           $27,797,400              156,340               $17.78
    UNITED AIRLINES INC.              CHICAGO             IL              1/15/2021      $3,001,196,216         $870,358,865            2,011,924               $43.26
    REPUBLIC AIRWAYS INC.             INDIANAPOLIS        IN              1/15/2021       $130,416,748            $9,125,024                2,199              $415.00
    ALLEGIANT AIR LLC                 LAS VEGAS           NV              1/15/2021        $105,521,953           $1,656,586                  924              $179.23
    JETBLUE AIRWAYS                   LONG ISLAND         NY              1/15/2021        $580,235,932         $144,070,780              998,411               $14.43
    CORPORATION                       CITY
    SOUTHWEST AIRLINES CO.            DALLAS              TX              1/15/2021      $1,986,475,960        $565,942,788             1,222,867               $46.28
    AMERICAN AIRLINES INC.            FORT WORTH          TX              1/15/2021      $3,549,766,770       $1,034,930,031            6,608,749               $15.66
    SKYWEST AIRLINES INC.             ST. GEORGE          UT              1/15/2021        $268,069,807          $50,420,942              124,773               $40.41
    ALASKA AIRLINES INC. 8            SEATTLE             WA              1/15/2021        $612,685,500         $155,924,475              305,499               $52.25




1
  In certain cases where multiple affiliated entities were approved as eligible recipients, only one affiliate or a parent company is listed.
2
  The location provided is the city and state included by the participant in its application and may not include all locations in which the participant operates.
3
  Agreement Date refers to the date that the PSP2 Agreement was fully executed.
4
  Payroll Support refers to the PSP2 awardable amount as of the date of this report.
5
  The note has a duration of 10 years. For passenger air carriers, when applicable, this is equal to 30 percent of the payroll support provided to the participant
over $100 million. For contractors, when applicable, this is equal to 44 percent of the payroll support provided to the participant over $37.5 million. For
passenger air carriers and contractors, the cash interest rate on the note is 1 percent per year in the first five years and converts to the Secured Overnight
Financing Rate plus 2 percent per year in the last five years. Cash interest on the notes is payable semiannually on March 31 and September 30 of each year
beginning on September 30, 2020. For contractors that have not issued equity securities that are traded on a national securities exchange, the note also includes a
payment-in-kind interest rate of 3 percent per year in the first five years, with an increase of 1 percentage point per year in years six through ten.
6
  The warrants provide Treasury with the right to purchase shares of common stock or receive a cash payment. The number of warrants required is equal to 10
percent of the principal amount of the note issued by the participant, divided by an exercise price. The PSP2 exercise price for passenger air carriers is generally
equal to the value of the shares as of market close on December 24, 2020. The warrants are exercisable for a five-year term.
7
  Warrant Exercise Price refers to the strike price of the warrant.
8
  Alaska Airlines Inc. issued a note and warrants related to payroll support provided to both Alaska Airlines Inc. and McGee Air Services Inc. McGee Air
Services Inc. is an eligible contractor and a wholly owned subsidiary of Alaska Airlines Inc.

                                                                                                                                                                  25
                                                                                                             Note Principal        Number of         Warrant Exercise
        Contractor Participants 1        City 2          State    Agreement Date 3     Payroll Support 4       Amount 5            Warrants 6            Price 7
    PANASONIC AVIONICS              LAKE FOREST          CA             2/3/2021           $52,728,182           $6,700,400               N/A                    N/A
    CORPORATION
    SWISSPORT USA INC.              RALEIGH              NC              2/4/2021          $60,545,677          $10,140,098                 N/A                  N/A
    WORLDWIDE FLIGHT                JAMAICA              NY              2/3/2021          $45,622,544           $3,573,920                 N/A                  N/A
    SERVICES INC.
    LUFTHANSA TECHNIK               TULSA                OK              3/2/2021           $7,227,924           $3,900,893                 N/A                  N/A
    COMPONENT SERVICES LLC
    MENZIES AVIATION (USA)          DALLAS               TX              2/3/2021          $48,451,415           $4,818,623                 N/A                  N/A
    INC
    SKY CHEFS INC.                  IRVING               TX              3/2/2021          $93,392,267          $26,681,560                 N/A                  N/A
    GATE GOURMET INC                RESTON              VA               2/9/2021          $74,750,674          $16,390,296                 N/A                  N/A
    MCGEE AIR SERVICES              RENTON              WA               2/5/2021          $12,988,516           $3,698,499                 N/A                  N/A




1
  In certain cases where multiple affiliated entities were approved as eligible recipients, only one affiliate or a parent company is listed.
2
  The location provided is the city and state included by the participant in its application and may not include all locations in which the participant operates.
3
  Agreement Date refers to the date that the PSP2 Agreement was fully executed.
4
  Payroll Support refers to the PSP2 awardable amount as of the date of this report.
5
  The note has a duration of 10 years. For passenger air carriers, when applicable, this is equal to 30 percent of the payroll support provided to the participant
over $100 million. For contractors, when applicable, this is equal to 44 percent of the payroll support provided to the participant over $37.5 million. For
passenger air carriers and contractors, the cash interest rate on the note is 1 percent per year in the first five years and converts to the Secured Overnight
Financing Rate plus 2 percent per year in the last five years. Cash interest on the notes is payable semiannually on March 31 and September 30 of each year
beginning on September 30, 2020. For contractors that have not issued equity securities that are traded on a national securities exchange, the note also includes a
payment-in-kind interest rate of 3 percent per year in the first five years, with an increase of 1 percentage point per year in years six through ten.
6
  The warrants provide Treasury with the right to purchase shares of common stock or receive a cash payment. The number of warrants required is equal to 10
percent of the principal amount of the note issued by the participant, divided by an exercise price. The PSP2 exercise price for passenger air carriers is generally
equal to the value of the shares as of market close on December 24, 2020. The warrants are exercisable for a five-year term.
7
  Warrant Exercise Price refers to the strike price of the warrants.

                                                                                                                                                                  26
Appendix C: Quarterly Compliance Report Template (Q2 2021)
The following pages provide screenshots of Treasury’s online reporting system for the PSP2 program. Each PSP2 participant is
required to submit reports using this template.




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