A private North East ambulance service which has been providing emergency transport services to the NHS during the Covid-19 crisis has secured a £1.16m finance package to safeguard its future.
IAS Medical, based in Darlington, provides air ambulance services to fly sick and injured citizens back to the UK from across the world. It has secured the funding from HSBC UK, which forms part of the government-backed Coronavirus Business Interruption Loan Scheme (CBILS).
With global travel restrictions still in place and much of the UK’s airspace closed, IAS has seen a sharp decline in demand for its air ambulance services, resulting in revenue losses of around £450,000 a month since the start of April 2020.
In addition to air ambulances, IAS Medical has a fleet of paediatric ICU ambulances based at the Great North Children Hospital in Newcastle.
Its aircraft is based at Teesside International Airport and East Midlands Airport and its customers include the NHS, the Ministry of Defence and the Government.
However, the business, which employs 52 people in the North East, has seen a spike in demand for its ground ambulance services during Covid-19. IAS has been supporting the NHS by transporting patients from infected hospitals to alternative local hospitals where they can be treated safely.
The firm is using the funding to meet its monthly financial commitments and continue providing crucial emergency services to the NHS using its fleet of ground ambulances.
Peter Roberts, managing director at IAS Medical, said: “HSBC UK’s much-needed support has allowed us to continue operating at a time when our air ambulance flights, and income have dramatically reduced. The CBILS loan has enabled us to cover our monthly fixed costs including hangarage, insurance and rent that are independent from, and remain payable, whether or not our air ambulance aircraft fly.”
Claire Welburn, commercial manager for the North East at HSBC UK, added: “IAS Medical provides a crucial lifeline to the NHS and UK citizens, particularly in the North East, so we’re extremely happy to help it remain operational and secure its long term future so it can continue the fantastic work they are doing at a time when its services and expertise are needed most.”
