EC approves HUF 8 bln Hungarian wage subsidy scheme for aviation sector
The European Commission approved on Wednesday a HUF 8bn Hungarian wage subsidy scheme for the aviation sector, which has been hit hard by the coronavirus crisis, according to a report by state news wire MTI.
The support will take the form of exemptions - amounting to up to 23% of gross salary - from employersʼ social security, vocational training, and rehabilitation contributions.
The scheme will be open to companies that make and repair aircraft and aircraft machinery as well as to airlines whose business volume has suffered because of the pandemic. It aims to preserve jobs.
The EC said the scheme is in line with temporary rules on state aid in place during the coronavirus crisis.
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