Aviation industry needs P8.6 billion monthly bailout amid COVID-19 —ACAP exec

An estimated P8.6 billion monthly assistance is needed to keep the Philippines' aviation sector afloat amid the COVID-19 pandemic, according to an official of the Air Carriers Association of the Philippines (ACAP).

During the hearing of the Senate committee on public services, ACAP vice chairman Roberto Lim said this amount comprises of the P1.3 billion monthly wage subsidy to affected aviation workers, P500 million navigational fees and charges paid by carriers, and a P6.8 billion working capital.

There are around 25,000 affected workers in the domestic aviation industry but if other allied sectors like hospitality and tourism will be included, an estimated 500,000 workers would be at stake due to domino adverse effects of the pandemic, he added.

The expected losses in the industry for this year is pegged at $4.9 billion, according to Lim.

Senate President Pro Tempore Ralph Recto asked Lim to submit to the Senate proposals on the assistance that can be extended by the government to the industry.

An enhanced community quarantine has been implemented over the entire Luzon since March 17—shutting down several establishments and suspending mass transportation in land, air, and water to limit population movement and arrest the spread of the contagion.

The same measure has been extended until May 15 to Metro Manila, Central Luzon, Calabarzon and other high-risk areas in the country.—AOL, GMA News