Aurigny holding group could get £25m. boost
TREASURY and Resources wants to spend £25.2m. from the over-subscribed capital reserve to recapitalise the holding company of loss-making Aurigny.
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But because of the volatility of the industry, it also wants the States to give it the authority to make additional short-term loans to keep the airline operational.
T&R said it remains firmly of the belief that it is 'overwhelmingly in the Bailiwick's strategic interest' to continue to own Aurigny to protect essential air services.
The £25.2m. covers existing losses of £19.9m., which date back to 2003, and further predicted losses until the end of 2017.
