Aviation: Coronavirus

(asked on 3rd June 2020) - View Source

Question to the Department for Transport:

To ask the Secretary of State for Transport, whether he plans to prevent (a) share buybacks, (b) the payment of dividends and (c) capital contributions from the date of Government loans to UK aviation companies until 12 months after those loans have been repaid in full; and if he will make a statement.


Answered by
Kelly Tolhurst Portrait
Kelly Tolhurst
This question was answered on 8th June 2020

Bespoke financial support will only be considered as a last resort, once all other options have been exhausted.

Terms for any bespoke financial support would be structured to protect taxpayers’ interest, and the Government would expect to have regard to factors including but not limited to whether the business makes a material contribution to the economic activity of the UK, and the equitable and fair treatment across businesses in the sector.

Any bespoke support would need to represent value for money. Any Government support would also need to comply with current State aid rules.

Reticulating Splines