Iranian airlines to receive coronavirus-related relief loan in June
TEHRAN, Iran, May 30
All active Iranian airlines will be introduced to agent banks to receive loan to mitigate coronavirus impact in early June, said Iran's Civil Aviation Organization spokesman.
"The loan will be offered to airlines that had to stop their activities due to financial damages caused by coronavirus spread," said Reza Jafarzadeh, Trend reports citing IRNA.
"The Civil Aviation Organization had evaluated the volume of damages and submitted a report to the Ministry of Road and Urban Development; the ministry has approved the loans," he said explaining delay in loan payment from agent banks.
"The government has currently assigned specific credit for air transportation sector, and at this stage, banks are to compensate losses of active airlines," he added.
The official did not specify the names of airlines that are to receive support package and did not comment on what were the criteria in selecting airlines for loan.
Iranian government has approved $1.9 billion supportive package for transportation sector, part of which is assigned to railway transportation companies. As announced, about $714 million of the sum is allocated to air aviation sector.