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European Commission Authorises €351m State Loan To Finnair

Published on Mar 22 2021 1:40 PM in General Industry tagged: Finnair

European Commission Authorises €351m State Loan To Finnair

The European Commission has said that it has authorised a loan of €351 million from the Finnish government to airline Finnair as compensation for losses suffered during the pandemic.

The airline, similar to other competitors, incurred significant operating losses due to travel restrictions in Finland and destination countries, the Commission said.

"With the measure we approved today, Finland will compensate Finnair for damages directly suffered as a result of such restrictions," EU antitrust commissioner Margrethe Vestager said in a statement.

Period Covered

The state aid, in the form of a hybrid loan, will cover losses for the period between March 16, 2020 and December 31, 2020, the Commission said.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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