The European Commission approves Finnair's state loan from the Finnish state, which has thus been able to subscribe to a hybrid bond worth 400 million euros. This is stated in a press release.
The arrangement has been approved by the European Commission's competition authority in line with what is stipulated under the EU's state aid rules.
Finnair is taking out the loan to secure the company's survival through the pandemic, which has weighed heavily on the aviation and tourism industries over the past year. The company will initially receive access to EUR 350 million and will be given the right to use an additional EUR 50 million at a later stage if conditions are met, the company writes.
Source: Nyhetsbyrån Direkt
