Will the Minister provide a breakdown of how the £13.3 million allocated to aviation will be spent?
Answered by Deputy Minister for Climate Change | Answered on 21/02/2023
The £13.3m aviation budget is allocated for Cardiff Airport’s Rescue and Restructuring Aid grant package. The purpose of the funding is to provide the airport with financial assistance to keep operating within the operational and capital cost envelopes outlined in its Restructuring Plan, with a view to ensuring a return to long-term viability. The funding must be used as set out in the airport’s grant agreement with the Welsh Government.
The aviation capital funding increase is in line with the agreed grant drawdown schedule under the terms of the Rescue and Restructuring Aid package.