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China plans to provide financial support to Chinese and foreign air transport enterprises to enhance cargo transporting capacity and stabilize the global industry and supply chain amid the fight against the COVID-19 pandemic.
The financial support will be offered for the refitting of passenger aircraft into cargo flights authorized by Chinese civil affairs authorities, as well as airlines that fly cargos with passenger air routes in and out the Chinese mainland from April 1, according to the Ministry of Finance and the Civil Aviation Administration of China.
Some 80 percent of the aircraft refitting cost during the epidemic prevention and control period will be subsidized.
The maximum subsidies for each single-aisle aircraft is CNY 800,000 (about USD112,530) while that for each double-aisle aircraft is CNY1.45 million.
Source: Yicai Global
