Banking industry fines set to benefit Children's Air Ambulance - The Stratford Observer

Banking industry fines set to benefit Children's Air Ambulance

Stratford Editorial 22nd Dec, 2016   0

FINES from the banking industry totalling £1million will help keep the Children’s Air Ambulance flying.

The charity, which is based in Rugby and flies out of Coventry Airport, will use the cashdonated for the service’s expansion plans that will see two new helicopters take to the skies in a £32million deal, and establish two new bases in the north and south of the country.

The so-called Libor Fund comes from fines levied on the banking sector for manipulating the average of interest rates by leading banks, and was announced by Chancellor Philip Hammond during the Autumn Statement.

Andy Williamson, CEO of the Air Ambulance Service charity, which operates the national Children’s Air Ambulance, said: ‘’We are grateful for the generous allocation from the Libor fines that will be used to help more children across the UK.

‘’It comes at an exciting time for the Children’s Air Ambulance as we work towards expanding our vital service with two new helicopters next year.’’

The Children’s Air Ambulance provides a unique service that flies critically ill children from local hospitals to specialist intensive care units. The average cost of each flight is £2,800.

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* OVER £30,000 has been raised for the Warwickshire and Northamptonshire Air Ambulance by kind-hearted supporters.

Street collections across the two counties saw supporters hand out yellow pin badges in exchange for donations during the second Air Ambulance Week.

As a result of a popular response, donations exceeded the amount raised last year by £5,000.

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