Virus Outbreak: MOTC working on bailout for airlinesBy Shelley Shan / Staff reporterThe government is planning a special loan for the nation’s six airlines as their businesses have been severely affected by the COVID-19 outbreak, Deputy Minister of Transportation and Communications Huang Yu-ling (黃玉霖) said yesterday. Details of the bailout are to be decided at an Executive Yuan meeting tomorrow, he said on the sidelines of a meeting of the Legislative Yuan’s Transportation Committee. Asked if the bailout would be capped at NT$30 billion, as some local media have reported, Huang said that the airlines are still calculating the exact amounts they need to weather the crisis. “The airlines have experienced a massive reduction in revenue in the past few months due to the COVID-19 outbreak, which has led them to have low cash flow as well. The special loan program would fund paychecks for their employees and help them get though this difficult time,” he said.

Source: Taipei Times March 16, 2020 15:56 UTC