House bill calls for P40-billion airline bailout

House bill calls for P40-billion airline bailout
BusinessWorld
3 hrs ago
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A House legislator filed a measure Thursday that will allocate P40 billion to assist the air transport industry affected by the pandemic.
AAMBIS-OWA Party-list Rep. Sharon S. Garin filed House Bill 9324 or the proposed “Air Carriers Relief Act” which will provide a relief package to the air transport sector following the damage done to travel by the coronavirus disease 2019 (COVID-19) crisis.
The bill calls for “extend(ed) loan payments, interest-free loans, loan guarantees, and regulatory relief” for the industry.
The P40-billion package will consist of P10 billion in interest-free loans to be provided by the Development Bank of the Philippines (DBP); P10 billion in guarantees from the special fund of the Philippine Guarantee Corporation; P10 billion in relief from regulatory fees; and a P10 billion provision for rapid COVID-19 testing.

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