£5m Libor Donation to Air Ambulances ‘Will Save Hundreds of Lives Each Year’
Devon Air Ambulance Trust is one of several Air Ambulance charities in the UK set to benefit from a £5 million fund from Libor fines.
The Charity will receive £250,000 from the fund, which will contribute towards the cost of equipment needed for night flying in 2016.
Heléna Holt, Chief Executive of Devon Air Ambulance Trust said “We are delighted with the news that the Charity will receive such a large sum of money from the Libor Fund. This sum will go a long way in helping us to secure the extension of our flying hours up to midnight every day from 2016.”
The funding was confirmed yesterday (24th February 2015) at a meeting between UK Chancellor George Osborne and the Association of Air Ambulances, whose charity will distribute the money among the 20 local Air Ambulance charities set to benefit.
Chancellor of the Exchequer George Osborne said:
“From enabling the fantastic Air Ambulance services to extend their flying hours, to helping build brand new specialist headquarters, this funding will play a vital role in helping to save hundreds of lives every year. It is absolutely right that we use funds from those who demonstrated the worst values to reward those who demonstrate the best, like our hardworking air ambulance crews.”
Today’s announcement follows extensive lobbying by the Association of Air Ambulances and is in addition to the Libor funds already announced for three air ambulance charities. It also follows the announcement of relief of VAT on air ambulance charities and aviation fuel which was announced last year. Combined, the changes will be worth over £15 million nationally over the next 5 years.