Korea: Airlines, travel agencies to receive govt aid
The Korean govt will offer up to KRW300b (US$254m) in emergency loans through the state-run Korea Development Bank to low-cost carriers that have suffered a heavy hit to their earnings because of the new coronavirus, officials said Monday. The govt will also allow delayed payment of fees for the use of airport facilities for up to 3 months, and will reduce landing charges by 10% for 2 months from June if demand for flights has not recovered within the later part of the first half of the year. The airline industry has already suffered operating losses for the third consecutive quarter due to nationwide boycotts of trips to Japan, which was a reaction to Japan's restrictions on exports of key industrial materials to Korea, and the grounding of the Boeing 737 Max. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-02-19/general/korea-airlines-travel-agencies-to-receive-govt-aid
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Korea: Airlines, travel agencies to receive govt aid
The Korean govt will offer up to KRW300b (US$254m) in emergency loans through the state-run Korea Development Bank to low-cost carriers that have suffered a heavy hit to their earnings because of the new coronavirus, officials said Monday. The govt will also allow delayed payment of fees for the use of airport facilities for up to 3 months, and will reduce landing charges by 10% for 2 months from June if demand for flights has not recovered within the later part of the first half of the year. The airline industry has already suffered operating losses for the third consecutive quarter due to nationwide boycotts of trips to Japan, which was a reaction to Japan's restrictions on exports of key industrial materials to Korea, and the grounding of the Boeing 737 Max. <br/>
