Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE
Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc
Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRocView Video
Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors
Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investorsView Video

Latest Share Chat

Airlines call for furlough scheme to be extended until April 2022

Thu, 10th Jun 2021 14:07

(Sharecast News) - British airlines have called for the furlough scheme to be extended for aviation workers after the government's latest travel restrictions left them "unable to trade" during peak summer months.
In a letter to chancellor Rishi Sunak, industry body Airlines UK said that while the broader economy was opening up, there were "no markets of any meaningful size on the green list". With the government also advising against travel to amber list countries, it meant carriers were entering "the vital crucial summer season still in effect unable to trade".

Airlines UK is therefore calling for targeted support for the aviation industry, including 100% furlough support for aviation workers until the end of April 2022, to protect jobs over the traditionally unprofitable winter season. The furlough scheme is currently set to taper off and then end for all sectors by September.

Other measures include extending repayment deadlines for rates relief, the Covid Corporate Financing Facility and Coronavirus Business Interruption Loan Scheme, and restart grants based on surplus capacity.

One of the worst-hit sectors by the pandemic, aviation has already received considerable support from government.

However, Airlines UK chief executive Tim Alderslade said: "The bulk of the government's headline £7.2bn of support for UK airlines has essentially been taken on as new debt, compared to a little over £1bn in director furlough support.

"No sector would be able to continue to accumulate debt in this way for much longer and hope to be able to recover."

The sector has already cut more than 30,000 jobs during the pandemic, with pre-tax losses running to "billions of pounds", Alderslade said.

He concluded: "The best way for UK aviation to recover, and support the wider economy reliant upon our air connectivity, is to be able to operate again. Today the UK is being cut off from rest of the world, many of whose citizens are being enabled to travel and do business internationally again safely."

Portugal was the only mainstream holiday destination on the green list that permitted visitors from the UK. But it was moved onto the amber list earlier this week. Travellers returning from amber list countries must quarantine for 10 days.

Related Shares

More News
28 Mar 2024 16:49

UK Border Force officers at Heathrow airport to take strike action

LONDON, March 28 (Reuters) - More than 600 UK Border Force officers at Heathrow Airport, Britain's busiest hub, will take strike action for four day...

27 Mar 2024 10:28

JPMorgan puts IAG on 'positive catalyst watch' ahead of Q1 results

(Sharecast News) - JPMorgan Cazenove placed shares of BA and Iberia owner IAG on 'positive catalyst watch' on Wednesday ahead of first-quarter results...

27 Mar 2024 09:40

LONDON BROKER RATINGS: Sainsbury's, Petershill Partners upped to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

21 Mar 2024 16:33

London close: Stocks rise as BoE keeps rates on hold

(Sharecast News) - London markets closed higher on Thursday, sustaining gains after the Bank of England adhered to expectations by maintaining interes...

21 Mar 2024 09:27

LONDON BROKER RATINGS: UBS cuts Entain; RBC raises IAG

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.