The Government has given the green light to the rescue of the airline Air Europa for a total of 475 million euros, as announced by the Minister Spokesman, Maria Jesus Montero, in the round after the Council of Ministers.
The rescue will be carried out through the Government rescue fund for strategic companies managed by Sepi. Air Europa requested this loan in September, given the delicate financial situation it is experiencing as a result of the pandemic.
This aid will be channeled through two loans and Air Europa will have six years to repay them. As Montero recalled, this fund “only aims to offer temporary support to non-financial companies that are damaged by the pandemic.”
In the case of Air Europa, “the impact of the pandemic is due to the reduction in air traffic due to less mobility and less arrival of tourists,” said Montero, who has encrypted the drop in activity in tea. Flight terms from April to July at 95%.
The minister recalled that Air Europa is the second airline with the most international flights, as it reaches 130 airports in 60 countries, “which shows the size of the weight” it has. The airline is “an important operator of the Madrid-Barajas hub” and has highlighted its contribution to connectivity with the Canary and Balearic Islands and with Latin America.
Air Europa accounts for 18% of the global figure for the companies as a whole, in terms of revenue, and provides “an essential service to guarantee the connectivity of Spain and this gives it a strategic character”. Air Europa has presented the viability plan, which has the approval of the fund’s management council.
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