Coronavirus: No extra help for airlines, chancellor says
The UK chancellor has told airlines to find other forms of funding and not turn first to the government for help getting through the coronavirus crisis.Aviation bosses have been lobbying the government for a targeted aid package to stop firms going under as a result of the slump in demand.Mr Sunak instead urged airlines to try and raise money from shareholders.He said the government would only enter into negotiations with individual airlines once they had"exhausted other options".
The group said annual worldwide revenues from ticket sales would fall by $252bn if travel bans remain in place for three months, a drop of 44% compared to last year. "There is a small and shrinking window for governments to provide a lifeline of financial support to prevent a liquidity crisis from shuttering the industry."
Karen Dee, who runs the Airport Operators Association , said the aviation industry was"surprised" by Mr Sunak's decision and will have to"fight on its own to protect its workforce and its future".
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pound to euro exchange rate: GBP at mercy of coronavirus after Rishi Sunak boost last weekTHE POUND to euro exchange rate remains at the mercy of the dreaded coronavirus in the days ahead as the trading week gets underway. GBP benefited from a boost on Friday thanks to Rishi Sunak's announcement - but what does it mean for travel money?
Read more »
Coronavirus: Germany bans gatherings of more than two to curb virus - BBC NewsThe drastic move is announced as Chancellor Angela Merkel says she is quarantining herself.
Read more »
Chancellor rejects widespread calls for universal basic income, saying government ‘not in favour’Over 170 MPs urged the chancellor to consider the radical policy to deal with economic impact of covid-19
Read more »
Germany bans groups of more than two to curb virusThe country expands restrictions on social interaction as Chancellor Merkel goes into quarantine.
Read more »
Merkel quarantined as doctor tests positive for coronavirusGerman chancellor was informed about the measure shortly before a press conference on coronavirus
Read more »