Airplanes and carriers. Air Europa bailout approved
Now Spanish government will have to pronounce
Bailout is served, but another could be needed in six months: Sepi, the Spanish state company that deals with industrial holdings, officially approved in recent hours the plan for restructuring the debt of airline Air Europa, a green light which was long overdue (read also the article published by AVIONEWS). We are talking about a total of 475 million Euros, an important figure and which, according to what the Iberian media reported, may not even be enough to sleep peacefully. Injection of money is higher than imagined in recent weeks; in fact, 75 million euros more were added and the sum will have to receive another two ok certainly not less authoritative.
The government of Madrid and then also European Union will speak shortly on the level of the Spanish airline, taking into account the crisis triggered by the coronavirus and a fact. Indeed, the financial plan has been tweaked several times by the CEO, Javier Hidalgo, who eliminated Autumn and Winter seasons. This is not even the first program presented to Sepi, given that the latter company had previously rejected another draft, considered “too optimistic”. In addition to the aforementioned 475 million, another 140 million must be added, namely the Spanish loan granted last May (see AVIONEWS).
AVIONEWS - World Aeronautical Press Agency