Air Nostrum studies presenting itself to the Treasury fund for strategic firms and contemplates other opportunities

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The Valencian airline Air Nostrum study to present to solvency support fund for strategic companies arbitrated by the Ministry of Finance and managed by SEPI, and continues to analyze the opportunities that may arise within the framework of community regulations that contribute to ensuring the viability of the company.

In the autonomous field, it has maintained meetings with the Generalitat to expose the situation in the sector caused by the coronavirus pandemic and, specifically, of the company, although at the moment they have not reached any agreement regarding possible aid, according to Air Nostrum sources have told Efe.

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These contacts, which progresses this Wednesday The confidential, are framed in the line of use all the mechanisms at your disposal within the new legal framework emerged as a consequence of the pandemic to face the situation and try to guarantee survival in the world crisis scenario.

The Regional Ministry of Territorial Policy has also confirmed to Efe the contacts with Air Nostrum, as well as with other companies in the transport sector, to know the situation they are going through, and they have explained that nothing has yet been specified regarding some type of support.

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Air Nostrum claims that the collapse of passenger traffic is suffering heavily in the income statement generated by the pandemic, as is happening in the rest of the airlines and other sectors of the tourism sector.

They recalled that they first worked with the banking sector to obtain financing within the ICO credits, and now they are studying to apply to the fund to support the solvency of strategic companies arbitrated by the Ministry of Finance.

On March 28, Air Nostrum announced that it was temporarily stopping flying due to national and international mobility restrictions and the closure of borders due to the coronavirus and applied an ERTE due to force majeure for its entire workforce (1,439 employees).

It closed a financing round of 130 million euros with the endorsement of the ICO in which 18 financial entities participate, destined to cover the treasury needs for the rest of the year and meet financial commitments which implies the gradual return of the airline to operation, in accordance with the de-escalation phases contemplated by the authorities and the market recovery forecasts.

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