The Government recognises the challenging times facing the aviation sector as a result of COVID-19. Firms experiencing difficulties as a result of COVID-19 can draw upon the unprecedented package of measures announced by the Chancellor, including schemes to raise capital, flexibilities with tax bills, and financial support for employees.
The Coronavirus Job Retention Scheme (CJRS) is a temporary scheme in place for 8 months starting from 1 March and ending at the end of October.
As of midnight 28 June 2020, the CJRS has helped 1.1 million employers across the UK furlough 9.3 million jobs, protecting people’s livelihoods.
As the Chancellor set out in his letter to the aviation sector, should individual firms still find themselves in difficulty after exhausting all other options, the Government is prepared to enter negotiations with them as a last resort. Any intervention would need to represent value for money for taxpayers.