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This afternoon the UK Government released information stating that four airlines had received bailout funds from the Bank of England’s Coronavirus Corporate Financing Facility. This money has been issued on agreement that will see monies repaid at rates 0.2 to 0.6%.
EasyJet and Ryanair have received £600m of funding each. British Airways and Whizz Air have received £300m of funding each.
Sadly despite receiving funds to help at this difficult time, all four airlines have had to make redundancies.
It’s hoped that despite the redundancies and struggles the travel industry is currently going through, these bailouts will allow the airlines to continue operating until the situation with Covid is resolved.
