• Airways
  • Railway
  • Roadways
  • Shipping & Port
Transport Advancement
  • Home
  • News
  • Projects
    Highways England unveils plans to widen A12

    Highways England unveils plans to widen A12

    African Development Bank, Africa50 in Landmark Bridge Project Linking Kinshasa and Brazzaville

    Geely Holding to Cooperate with China Aerospace Science and Industry Corporation on Developing Technologies Including Supersonic Trains

    AECOM to provide site supervision services for Malaysia’s East Coast Rail Link project

    Talgo obtains €30 million from the European Investment Bank for Innovation projects

    U.S. Department of Transportation Advances Rail Projects in Florida and Texas

    World premiere of the Mercedes-AMG Project ONE: Mercedes-AMG brings Formula 1 technology to the road

    One of the world’s longest electric car highways will be built in Australia

    CX North America Releases Next-Generation Mobile App for Drivers

  • Articles
  • Press Statements
  • Market Reports
    Austal signs agreement to buy BSE Maritime Solutions

    Austal signs agreement to buy BSE Maritime Solutions

    HPC leads machine learning initiative at Hamburg container terminal

    Chinas busiest port sees growth in sea-rail transport

    IATA health checklist to help airlines implement ICAO Covid-19 guidance

    Air cargo demand helps Korean to Q3 operating profit

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Transoft acquired Keysoft Solutions

    Transoft Solutions Completes Acquisition of Uk-based Keysoft Solutions

    GRAHAM

    GRAHAM revenue stabilisation sets the platform for sustainable growth

    DP World Acquires Topaz in USD 1.1 Bn Deal

    DP World Acquires Topaz in USD 1.1 Bn Deal

    Siemens sells electric aircraft-propulsion business to Rolls-Royce

    C.H. Robinson Acquires The Space Cargo Group to Expand Global Presence

    C.H. Robinson Acquires The Space Cargo Group to Expand Global Presence

  • Events
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Projects
    Highways England unveils plans to widen A12

    Highways England unveils plans to widen A12

    African Development Bank, Africa50 in Landmark Bridge Project Linking Kinshasa and Brazzaville

    Geely Holding to Cooperate with China Aerospace Science and Industry Corporation on Developing Technologies Including Supersonic Trains

    AECOM to provide site supervision services for Malaysia’s East Coast Rail Link project

    Talgo obtains €30 million from the European Investment Bank for Innovation projects

    U.S. Department of Transportation Advances Rail Projects in Florida and Texas

    World premiere of the Mercedes-AMG Project ONE: Mercedes-AMG brings Formula 1 technology to the road

    One of the world’s longest electric car highways will be built in Australia

    CX North America Releases Next-Generation Mobile App for Drivers

  • Articles
  • Press Statements
  • Market Reports
    Austal signs agreement to buy BSE Maritime Solutions

    Austal signs agreement to buy BSE Maritime Solutions

    HPC leads machine learning initiative at Hamburg container terminal

    Chinas busiest port sees growth in sea-rail transport

    IATA health checklist to help airlines implement ICAO Covid-19 guidance

    Air cargo demand helps Korean to Q3 operating profit

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Transoft acquired Keysoft Solutions

    Transoft Solutions Completes Acquisition of Uk-based Keysoft Solutions

    GRAHAM

    GRAHAM revenue stabilisation sets the platform for sustainable growth

    DP World Acquires Topaz in USD 1.1 Bn Deal

    DP World Acquires Topaz in USD 1.1 Bn Deal

    Siemens sells electric aircraft-propulsion business to Rolls-Royce

    C.H. Robinson Acquires The Space Cargo Group to Expand Global Presence

    C.H. Robinson Acquires The Space Cargo Group to Expand Global Presence

  • Events
  • Contact Us
No Result
View All Result
Transport Advancement
No Result
View All Result
Home Airways

Greek Government announces €115 million support package for air transport sector

29th May 2020
in Airways, Press Statements
Greek Government announces €115 million support package for air transport sector
0
SHARES
47
VIEWS
Share on FacebookShare on Twitter

The Greek government on Thursday announced a package of measures amounting to €115 million to support the country’s air transport sector, hit hard by the lockdown to contain the spread of the new coronavirus including the grounding of flights.

“Sectors such as air transport which is directly linked with tourism … are in need of a special support framework as they have a systemic significance for the country’s economy,” Greece’s Finance, Labor and Transport ministries said.

The package includes a cut in VAT tax to 13% from 24% from June 1 to end-October, estimated to cost the government foregone income of about 30 million euros. The government will also replace the income tax on pilot, cabin crew and technical staff pay with a permanent 15% tax rate, which will lower the wage cost for companies in the sector by about 7.7 million euros annually.

It will also pay airlines servicing routes partly subsidised by the government, such as to remote islands, an extra €20 per offered seat including VAT, estimated to benefit the sector by 6 million euros.

Greece’s air transport sector employs about 11,000 and is important for tourism as up to 85% of tourism revenues from the total of €18 billion earned last year, comes from tourists arriving to Greece by planes, the ministries said.

The government will also social security contributions for all employees in the sector for the entire period when they will not be working, estimated to cost about €50 million. Greek carriers, ground handling and airports have performed strongly in the last years thanks to high inflows of tourists and are not in need of huge amounts of support, or capital injections as in other EU countries, the ministries said.

In response, Aegean Airlines stated that the announced measures to “support the airline sector are positive, but the figures are small compared with other EU countries.”

The Greek airline company said that these measures cover the whole airline sector, airport companies, ground handling and airlines of any size horizontally, without any advantages over anyone. At the same time, by resorting to the State Guarantee Fund, Aegean will apply for borrowing at all four systemic banks for a sum of €150 million, or 11 pct of its turnover. The airline company said that the basic measure is the support of workers to December 31, 2020, offering a 60 pct coverage to income losses in case of reduced employment. Similar programs already apply in the EU, particularly in northern Europe, with significantly higher support on labor cost for employers.

The measures must continue and evolve, and it is necessary to expand them until the start of the tourism season in 2021, the airline said.

It stressed that it will fight with its own powers, its own reserves and its own people. “The goal is to bring passengers back to use by adhering to the new hygiene protocols. And as always, we will lead this effort with all our powers and with pride,” it noted.

Previous Post

Wunder Mobility Launches Wunder Vehicles to Provide Hardware for Mobility Companies

Next Post

Covid-19 puts Poland's logistics and transport groups to the test

Related Posts

Ethiopian Cargo highlights its readiness for vaccine distribution
Airways

Etihad Cargo bolsters its global customer service centre operations

26th January 2023
High-Speed Railways

RB Rail, CPK and SZCZ sign MoU on high-speed rail cooperation

26th January 2023
Ethiopian Cargo highlights its readiness for vaccine distribution
Airways

Ethiopian Ramps up Cargo Investment for African E-commerce Hub

26th January 2023
No Increase In The Air Cargo Demand Post Holiday Season
Airways

WFS cargo fast tracks sustainability in Spain

26th January 2023
American Airlines Welcomes Its Newest Aircraft to the Fleet
Airways

American Airlines Cargo teams up with Airlink for Haiti aid flight

26th January 2023
No Increase In The Air Cargo Demand Post Holiday Season
Airways

No Increase In The Air Cargo Demand Post Holiday Season

19th January 2023
Next Post
Highways England unveils plans to widen A12

Covid-19 puts Poland's logistics and transport groups to the test

Latest Post

Ethiopian Cargo highlights its readiness for vaccine distribution
Airways

Etihad Cargo bolsters its global customer service centre operations

26th January 2023
Ethiopian Cargo highlights its readiness for vaccine distribution
Airways

Ethiopian Ramps up Cargo Investment for African E-commerce Hub

26th January 2023
No Increase In The Air Cargo Demand Post Holiday Season
Airways

WFS cargo fast tracks sustainability in Spain

26th January 2023
American Airlines Welcomes Its Newest Aircraft to the Fleet
Airways

American Airlines Cargo teams up with Airlink for Haiti aid flight

26th January 2023
No Increase In The Air Cargo Demand Post Holiday Season
Airways

No Increase In The Air Cargo Demand Post Holiday Season

19th January 2023
Cathay Pacific Cargo is first Asian carrier to offer Envirotainer Releye RLP container
Airways

Cathay Pacific welcomes quarantine-free travel and will more than double its flights to the Chinese Mainland

10th January 2023
Transport Advancement

About Us

Transport Advancement is a leading information centric website for latest updates within the industry. We cover Railway, Road Traffic, Airways, Shipping & Port and run with an objective to provide knowledge driven content to our readers and subscribers in various forms like news, projects, upcoming events.

Resources

  • Advertise with us
  • Contact Us
  • Newsletter Archive
  • Download Mediapack
  • Newsletter Subscription

System

  • Search
  • Site map
  • RSS Feed
  • Airways
  • Railway
  • Roadways
  • Shipping & Port

© 2022 Copyright Value Media Services 2022 All rights reserved.

No Result
View All Result
  • Home
  • News
  • Projects
  • Articles
  • Press Statements
  • Market Reports
  • Events
  • Contact Us

© 2022 Copyright Value Media Services 2022 All rights reserved.