3 Nov, 2020 @ 19:15
1 min read

Spain’s Air Europa gets official government approval for bailout loan

Spain S Air Europa Gets Official Government Approval For Bailout Loan

STRUGGLING carrier Air Europa is get a life-saving boost of €465 million from the Spanish government.

The loan, which has to be repaid by 2026, was approved today(November 3) by the Spanish cabinet.

The money will be filtered through the state-supported SEPI(Sociedad Española de Participaciones Industriales), which has a €10 billion fund to help firms hit by the coronavirus pandemic.

It’s the first Spanish company to benefit from SEPI after it gave it the nod for the bailout in September ahead of official rubber-stamping by the national government.

Along with all other carriers, Air Europa has been badly hit by drop in passengers demand this year caused by the health crisis.

It operates a range of domestic and European services as well as linking key centres in Central and South America with Madrid.

One of the conditions for the SEPI money being loaned was the company producing a new viability plan.

Alex Trelinski

Alex worked for 30 years for the BBC as a presenter, producer and manager. He covered a variety of areas specialising in sport, news and politics. After moving to the Costa Blanca over a decade ago, he edited a newspaper for 5 years and worked on local radio.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Story

Bookings to Canary Islands surge as travel warnings are lifted

Los Trabajadores De Tierras De Oria No Hubo Extralimitacion
Next Story

Spain’s ‘George Floyd’ case which saw teenage boy die in hands of juvenile centre security guards re-opens in in Andalucia

Latest from Business & Finance

Go toTop

More From The Olive Press