The British government plans to buy equity stakes in airlines and other companies which were affected by the coronavirus pandemic.
The government is planning on investing billions of pounds in British Airways and other airlines in return for shares to eventually be sold back to private investors.
This move comes not long after the government was warned that its economic support packages which include a 330 billion-pound lifeline of loan guarantees, shall be insufficient to save companies from collapse.
Transport Minister Grant Shapps has spoken to major airlines and airports on how the government could potentially support the industry. Discussions regarding a support package for airlines and airports are going on at the moment.
So far, the United Kingdom has reported 3,983 coronavirus infections and 177 deaths.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.