JULY 3 — Governments’ relief efforts highlight the importance and strategic nature of aviation: In 2020, the global aviation industry is forecasted to see a US$411.0 billion reduction in revenues due to the Covid-19 pandemic crisis. Many governments have stepped in to provide relief to the...
• SAS received state-guarantee on loans of DKK1.5 billion, NOK1.5 billion and SEK1.5 billion respectively from Denmark, Norway, and Sweden• The Chinese government supported state-owned banks to provide loans with preferential interest rates and financial discounts to key enterprises engaged in the production, transportation, and sale of key medical materials and daily necessities
• The United States has made available a total of US$29.0 billion to be provided as loans or loan guarantees to passenger and cargo airlines under the CARES ActRoute support • The UK’s Coronavirus Job Retention Scheme would now be open until the end of June. The scheme allows firms to furlough employees with the government paying cash grants of 80.0 per cent of their wages up to a maximum of GBP2,500
• Malaysia’s MYR13.8 billion Wage Subsidy Program covers up to MYR 1,200 for up to 200 workers for each SME, as well as a MYR600 payment for workers furloughed under the Employee Retention Program • The Singaporean government has also provided rental waivers for office, commercial, and agriculture tenants of government agenciesOther relief instruments – Simplification of licensing processes and temporary relaxation of rules• The European Commission adopted a package of measures that will provide relief to the transport sector .
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