By Australia’s government will subsidize 800,000 half-price airfares as part of a A$1.2 billion ($920 million) package to prop up the nation’s ailing tourism industry. Stocks in the nation’s aviation and travel industries jumped.
It include hotels , flights , sightseeing and wine industry.
Other details of the package include:
Qantas and Virgin Australia will receive financial support from April 1 to Oct. 31 to help them maintain an agreed core international capability
Extension of existing programs to Sept. 30, including ensuring passenger and cargo movement on key routes; waiving security charges; and supporting zoos, aquariums and wildlife parks to maintain animal populations despite reduced revenue
Expanding and extending its SME Loan Guarantee Scheme, targeting and tailoring it to support those businesses that have been relying on JobKeeper; increasing it from A$1 million to A$5 million, and increasing the maximum eligible revenue from A$50 million to A$250 million
Extension of existing programs to Sept. 30, including ensuring passenger and cargo movement on key routes; waiving security charges; and supporting zoos, aquariums and wildlife parks to maintain animal populations despite reduced revenue
Expanding and extending its SME Loan Guarantee Scheme, targeting and tailoring it to support those businesses that have been relying on JobKeeper; increasing it from A$1 million to A$5 million, and increasing the maximum eligible revenue from A$50 million to A$250 million
