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Russia announces $320 million in ‘COVID-19 compensation’ for airlines

Russia airlines will receive $320 million from the government as COVID-19 'compensation'

Russia announces $320 million in ‘COVID-19 compensation’ for airlines
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In a statement posted on its official website, Russia’s government announced that it has earmarked 23.4 billion rubles (about $320 million) to ‘compensate’ for Russian airlines’ losses incurred as a result of COVID-19 pandemic.

“Domestic air carriers will receive 23.4 billion rubles in compensation for losses entailed as a result of the novel coronavirus infection outbreak. This decree has been approved by the government,” says the official government statement.

“The subsidies can be spent on wages for air industry personnel (no less than 60% from the overall amount of the installment), leasing payments (not more than 30% from the overall amount), payments for aircraft parking (not more than 10% of the overall amount), as well as operating activities and property maintenance,” the government said.

In order to receive a government subsidy, airline must file a request with Russia’s Federal Air Transport Agency and submit a package of necessary documents.

“The final decision is made within 20 working days after receiving the request,” the government’s press service said.

Airline industry was among the hardest-hit economic sectors, affected by the COVID-19 pandemic.

Russia completely halted regular and charter international flights since March 27 and airlines can only perform flights to deliver cargo and mail, as well as flights for sanitary and humanitarian purposes. Some air carriers currently use their fleet for delivery of medical items.

According to the Russian Federal Air Transport Agency, Russian airlines transported some 771,200 passengers in April, down 91.8% year-on-year.