DALLAS – The Chinese government will subsidize airlines from May 21 to July 20 to stave off the financial fallout of the pandemic and the increase in oil prices.
The country’s Ministry of Finance and the Civil Aviation Administration of China (CAAC) announced that the money is granted to any Chinese airline operating less than 4,500 flights per week and with load factors lower than 75%. Additionally, subsidized flights cannot be already profitable for the airline.
The maximum grant is worth US$3,570 per hour of flight, which is equal to 24,000 yuan, according to the ministry’s website. However, the central government does read more ⇒
Source:: “Airways Magazine”