This is clearly an uncertain time for many businesses, including those in the aerospace industry, a sector valued at over £1.8bn in Northern Ireland.
As well as the Furlough Scheme, the Government is supporting the UK’s aerospace and aviation industries with over £8.5bn in grants, loans and export guarantees. UK Export Finance is supporting £3.5bn of sales in the next 18 months, and £2.1bn has been made available through the COVID Corporate Financing Facility.
Having met recently with both management and Unite union representatives, I am pleased that Spirit and Bombardier have completed a deal that will end uncertainty for some 3,000 employees. This is a major vote of confidence in Northern Ireland’s highly skilled aerospace workforce.