fbpx Russian airlines and airports have received 250 million euros in state aid.

Russian airlines and airports have received 250 million euros in state aid.

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The Russian Federal Air Transport Agency announced that the government has provided a total of about 250 million euros for local airlines and airports.

The aid was granted between January and November 2020, to mitigate losses in the context of the COVID-19 pandemic.

Aleksey Novgorodov, deputy head of Russia's Federal Air Transport Agency, said that as of May 2020, the country had already granted about EUR 151 million (RUB 13,6 billion) to a total of 45 Russian air carriers that had requested grants to offset pandemic costs.

Airports started receiving subsidies a month later, in June 2020. The government has provided EUR 100 million (RUB 9,1 billion) to 108 airports across the country.

Russian civil aviation will receive state subsidies by 2021

Novgorodov noted that financial support from the state should help companies accumulate their own working capital to pay off obligations to credit and leasing companies, suppliers or other partners.

The aid granted to the local aeronautical industry made it possible to avoid staff reductions, managing to save 90% of the number of jobs in the industry. According to the statement, Russian civil aviation is expected to receive government support by 2021.

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