Airlines and travel firms still to repay £2bn in Covid loans

A number of outstanding emergency Covid loans yet to be repaid to government remain in the hands of airlines and travel companies.

Latest Bank of England data shows that £3.4 billion remains outstanding on the Covid Corporate Financing Facility (CCFF).

Of the 17 businesses listed as still having loans from the joint lending scheme run by the Bank and HM Treasury, seven are from the travel sector, still owing more than £2 billion.

Ryanair, easyJet and Wizz Air owe a combined £1.2 billion. This includes £600 million from Ryanair and £300 million each from easyJet and Wizz Air.

Jet2 has £200 million outstanding, Flight Centre £115 million, Gatwick £275 million and Stagecoach £300 million.

The scheme, set up to help the UK’s largest companies survive the pandemic, provided £30 billion in direct support.

Others still to repay outstanding CCFF loans on the Bank of England list include SSP Financing, which runs food and drink outlets at airports and other travel locations, owing £300 million.

Also listed are Ansco Arena, the firm behind the O2 venue in London, a number of housing associations, three universities and energy services company Petrofac.

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