Asked by: Lord Foulkes of Cumnock (Labour - Life peer)
Question to the Department for Transport:
To ask Her Majesty's Government what proportion of the financial support provided to airports during the COVID-19 pandemic was issued through (1) loans, and (2) grants.
Answered by Baroness Vere of Norbiton
We estimate that by the end of April 2021 the air transport sector (airlines, airports and related services) will have benefitted from around £7bn of government support since the start of the pandemic.
This includes more than £2bn through the Bank of England’s Covid Corporate Financing Facility (CCFF) and we estimate that the air transport sector will have received around £1bn in support through the Coronavirus Job Retention Scheme (CJRS) up to the end of April 2021.
We have guaranteed loans to airlines through the Coronavirus Large Business Interruption Loan Scheme (£25m) and we expect to pay out around £80m in grants to commercial airports and ground handlers by the end of the financial year, through the Airport and Ground Operations Support Scheme (AGOSS).
Further cross-economy measures are also available to businesses in the aviation sector. Since the start of this year (2021) £3.4bn of loans have been partially supported through export development guarantees. This includes a £1.4bn loan facility for easyJet, and a £2bn loan facility for British Airways, which will be largely guaranteed by UK Export Finance.
The Chancellor has announced the renewal of the scheme to help airports and ground operators with their fixed costs, with additional grants of up to £4m between April and September, an extension of furlough payments to September, and an online jobs market matching aviation employees with thousands of vacancies.
Asked by: Lord Foulkes of Cumnock (Labour - Life peer)
Question to the Department for Transport:
To ask Her Majesty's Government how much, in total, they have provided in (1) grants, and (2) loans, to the aviation sector during the COVID-19 pandemic.
Answered by Baroness Vere of Norbiton
We estimate that by the end of April 2021 the air transport sector (airlines, airports and related services) will have benefitted from around £7bn of government support since the start of the pandemic.
This includes more than £2bn through the Bank of England’s Covid Corporate Financing Facility (CCFF) and we estimate that the air transport sector will have received around £1bn in support through the Coronavirus Job Retention Scheme (CJRS) up to the end of April 2021.
We have guaranteed loans to airlines through the Coronavirus Large Business Interruption Loan Scheme (£25m) and we expect to pay out around £80m in grants to commercial airports and ground handlers by the end of the financial year, through the Airport and Ground Operations Support Scheme (AGOSS).
Further cross-economy measures are also available to businesses in the aviation sector. Since the start of this year (2021) £3.4bn of loans have been partially supported through export development guarantees. This includes a £1.4bn loan facility for easyJet, and a £2bn loan facility for British Airways, which will be largely guaranteed by UK Export Finance.
The Chancellor has announced the renewal of the scheme to help airports and ground operators with their fixed costs, with additional grants of up to £4m between April and September, an extension of furlough payments to September, and an online jobs market matching aviation employees with thousands of vacancies.
Asked by: Lord Foulkes of Cumnock (Labour - Life peer)
Question to the Department for Transport:
To ask Her Majesty's Government what proportion of the financial support provided to the aviation sector as a result of the COVID-19 pandemic was allocated to (1) airports, (2) airlines, and (3) other companies in that sector.
Answered by Baroness Vere of Norbiton
We estimate that by the end of April 2021 the air transport sector (airlines, airports and related services) will have benefitted from around £7bn of government support since the start of the pandemic.
This includes more than £2bn through the Bank of England’s Covid Corporate Financing Facility (CCFF) and we estimate that the air transport sector will have received around £1bn in support through the Coronavirus Job Retention Scheme (CJRS) up to the end of April 2021.
We have guaranteed loans to airlines through the Coronavirus Large Business Interruption Loan Scheme (£25m) and we expect to pay out around £80m in grants to commercial airports and ground handlers by the end of the financial year, through the Airport and Ground Operations Support Scheme (AGOSS).
Further cross-economy measures are also available to businesses in the aviation sector. Since the start of this year (2021) £3.4bn of loans have been partially supported through export development guarantees. This includes a £1.4bn loan facility for easyJet, and a £2bn loan facility for British Airways, which will be largely guaranteed by UK Export Finance.
The Chancellor has announced the renewal of the scheme to help airports and ground operators with their fixed costs, with additional grants of up to £4m between April and September, an extension of furlough payments to September, and an online jobs market matching aviation employees with thousands of vacancies.