Planes and carriers, 500 million to save Air Europa
Spanish government is evaluating financial aid
Half a billion is enough, at least for the moment. Air Europa could be saved by Spanish government with a loan of 500 million euros, a figure that was made public this morning, on Monday 7 September 2020, by local media. After Iberia's no to any help and to take on the carrier's debts, the yes should instead come from Josè Luis Abalos, minister of Public works. In reality it is not a sum that should be impressive, given that financial analysts have stressed how such an endowment would allow airline to survive for a very short season.
A possible rescue anchor would be that of Air Europa's proprietary fund, Globalia, but the equity of this holding is still not a sufficient guarantee. There are two possible options, namely financing from the bank or the long-awaited State bailout. In recent days, Brussels has made it clear how this aid can proceed, given that the rescues already authorized by the European Commission have been different, but forcing the airline to give up some of its main routes.
AVIONEWS - World Aeronautical Press Agency