Greater Manchester’s ten councils are set to provide a finance package of more than £250m to Manchester Airport amid growing fears about the impact of Covid-19, the Manchester Evening News can reveal.
The town halls - which between them have a 64.5pc stake in the airport group - may not start to see any repayments for a couple of years, but are hoping that by that point it will have returned to some semblance of normality.
Manchester council is expected to provide the biggest share of the loan package, at around £143m, in line with its larger stake in the company.
It is understood the other nine boroughs are expected to put in £13m each. Senior local authority figures said the move was aimed at protecting significant long-term town hall