The taxi sector and the bus and coach sector are important links in our transport system. That is why, on the recommendation of Flemish Minister of Mobility Lydia Peeters (Open Vld) and Flemish Deputy Prime Minister and Flemish Minister of Economy Hilde Crevits (CD&V), the Flemish government approved a series of support measures in the form of a premium and subordinated loans. Demand for taxi and bus transport fell sharply as a result of the corona crisis and the economic impact is very large.
Flemish Minister for Mobility Lydia Peeters (Open Vld):
“It is important that these mobility sectors can continue to play their role in our transport system in the future. The planned support measures should provide breathing space for the sector and support them so that they can remain active after this difficult period. ”
Flemish Minister of Economy and Work Hilde Crevits (CD&V):
“In recent months, taxi traffic and bus rides have been almost completely stopped, now that is slowly getting going again. In a sector where fixed costs for vehicles are often high, an aid measure is therefore more than welcome. With, among other things, the subordinated loans, we use our economic instruments to ensure that companies are given the financial space to continue operating without having to reduce their number of vehicles. ”
bus and coach sector: premium and bridging loan
The bus and coach sector saw a fall in turnover of approximately 80%, as many bus trips for schools and companies were canceled and bus trips in the leisure sector were not possible. At the same time, this sector is a very capital-intensive sector (vehicle fleet and infrastructure). The aid measures are therefore intended to help cover the fixed costs that the sector had to continue to bear during this period. Vehicles are the main fixed cost for the bus and coach sector and therefore the support measures are based on the purchase price of the buses and coaches.
This means that no less than 15,5 million euros of oxygen is pumped into the bus and coach sector via premiums. The premium is calculated on the basis of the purchase value of the vehicles that are used for particularly regular and occasional transport. In this way, the size of each company is taken into account and large and small companies receive the same support in proportion. Bus and coach companies wishing to qualify for this premium can start on July 17, 2020 application Submit. Applications can be submitted up to and including August 31, 2020.
In addition, PMV / z will offer a subordinated corona loan on behalf of and for the account of the Flemish Region for credit amounts from 5.000 euros and less than 25.000 euros. For loans of 25.000 euros and more, companies can turn to the existing subordinated corona loan of PMV / z. These loans have to be paid off at the earliest after 2 years, giving extra breathing room to the industry to get on top. Bus and coach companies can obtain a loan based on their vehicle fleet. The maximum credit amount is a maximum of 1,5% of the purchase value of the eligible vehicles.
The total package that can be received should never exceed 200.000 euros per bus or coach company as Europe has imposed this as a maximum limit and otherwise it is considered to be state aid.
taxi sector: bridging loan
The taxi sector continued to operate during the corona crisis, but nevertheless the sector experienced a drop in turnover of more than 90%. In order to ensure the future here too, and in view of their specific role in the context of basic accessibility, a bridging loan is provided. The vehicles are the most important fixed cost for taxi companies and companies that rent out vehicles with drivers, which is why the support measures for this sector are based on the size of their fleet.
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