President Putin announced new measures to support the economy and business amid the pandemic coronavirus. The head of state proposed to allocate more than 23 billion rubles for the salvation of the airlines. Meanwhile, according to estimates of industry experts, without the assistance of at least 150 billion rubles carriers will not be able to pay the aircraft lease, and to pay the salaries of the flight crew.
Experts believe, not all companies will survive the epidemic. The situation in the aviation industry very depressing. Today almost all the flights stopped. Before 1 June in most areas the tickets are not sold. Companies are in a freeze mode. At the same time they have to pay for the fixed costs: staff salaries, refunds for canceled tickets and the lease payments as a significant part of the boards will be purchased for leasing.
Despite major challenges, the industry continues to help dosed. “We know that serious challenges now facing the sector of air transport, — Putin said during a meeting with members of the Russian government. — As an emergency, urgent measures is considered necessary to provide support for aviation companies in more than 23 billion rubles.” The allocated funds are clearly not enough, says transport analyst of “Finam” Alexey Kalachev. “If the authorities have officially entered the country under a state of emergency, the lease payments and the payment of wages could lawfully be suspended. However, in the current environment, companies are required to pay. No revenue, and expenditure was going on,” he said. According to experts, only one month of such downtime, the aviation industry loses $ 46 billion.
“government funding is low, focused on the support payments. But in this case it is necessary to negotiate with banks — emphasizes Kalachev. — In General, the support of the industry may need 100 – 150 billion rubles.”
it is Obvious that the government will not support all airlines. The lion’s share of financial assistance will receive a large national carrier and its subsidiaries, which together serve half of the passenger traffic. Other companies will share balances between them. Some small airlines will withdraw from the market, and their share will be distributed between the major players.”
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