Finnair and the State of Finland signed an agreement on a hybrid loan of maximum 400 million euros to support Finnair due to the COVID-19 pandemic by March 2021. The arrangement has the approval of the of the European Commission the competition authority in accordance with the of the European Union state aid rules and therefore the total amount of 400 million euros is available for Finnair.
During its meeting on April 19, 2022the Ministerial Economic Policy Committee supported the conversion of the hybrid loan instrument into a capital loan which is considered an equity instrument. The capital loan will strengthen the equity of Finnair Plc, of the Finnair group head quarter. The granting of the capital loan requires approval by the plenary session of the government as well as a decision on state aid by the European Commission.
Finnair is able to access funds, when Finnair Plc the cash or equity position falls below the limits defined in the terms and conditions of the facility.
Further information :
Finnair Communications, 358 9 818 4020, [email protected]
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Finnair is a network airline, specializing in connecting passenger and cargo traffic between Asia and Europe. Sustainability is at the heart of everything we do – “Finnair intends to reduce its net emissions by 50% by the end of 2025” compared to 2019? and to achieve carbon neutrality no later than the end of 2045. Finnair is a member of the oneworld Alliance. Finnair Plc the shares are listed on the Nasdaq Helsinki Stock Exchange.
(C) 2022 electronic news edition, source ENP Newswire