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

Banking industry fines set to benefit Children's Air Ambulance

Matthew Brown 25th Nov, 2016   0

ONE million pounds in fines from the banking industry will benefit the Children’s Air Ambulance.

The charity which is based in Rugby and flies out of Coventry Airport, will use the money donated 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.

Each child’s transfer they carry out costs an average of £2,800.

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