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Russia to support its air carriers

Credit: kremlin.ru

Vladimir Putin held a meeting with government members via videoconference, to discuss measures of support to the national economy suffering impact of COVID-19 pandemic, presidential web page reported.

The President requested businesses to be offered “direct, free financial assistance from the state. These funds can be used by enterprises to address the current most urgent problems, including paying salaries and maintaining levels for their employees in April and May. The amount of support for a particular company will be calculated taking into account the total number of its employees as of April 1 of the current year, based on the amount of 12,130 rubles ($160) per employee per month.” Another support measure is “interest-free loans for the payment of salaries. Such loans are issued for a term of six months.”

Since air transportation is among industries that were damaged most severely, “As an urgent and emergency measure, I consider it necessary to allocate over 23 bln rubles ($300 mio) to support air carriers,” he said. “In particular, these funds will be used to lease equipment, to finance working capital, salaries and to pay for aircraft parking.”

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