The EU Commission has approved the remaining 50 million euros of the hybrid loan by the State of Finland to Finnair

Finnair Plc                  Stock Exchange Release                 17 February 2022 at 9.00 a.m. EET 

Finnair announced on 17 March 2021 that the company and the State of Finland had signed an agreement on a hybrid loan of maximum 400 million euros to support Finnair. The decision was made by the Plenary Session of the Government on 18 February 2021. The arrangement has the approval of the EU Commission’s competition authority in line with the European Union’s state aid rules.

The company also stated that of the credit limit, approximately 350 million euros can be used by Finnair based on the state aid decision made by the Commission on 12 March 2021 and that the remaining approximately 50-million-euro share will be brought to approval by the Commission at a later stage. The Commission has now approved the remaining 50-million-euro share and, therefore, the entire amount of 400 million euros is available for Finnair to use.

Finnair is able to access the funds, if its cash or equity position would drop below the limits that have been defined in the facility’s terms and conditions.  

FINNAIR PLC

Further information:
Finnair communications, 358 9 818 4020, comms@finnair.com

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Finnair is a network airline, specialising in connecting passenger and cargo traffic between Asia and Europe via the short northern route. Sustainability is at the heart of everything we do –  Finnair intends to reduce its net emissions by 50% by the end of 2025 from the 2019 baseline and achieve carbon neutrality latest by the end of 2045. Finnair is a member of the oneworld alliance. Finnair Plc’s shares are quoted on the Nasdaq Helsinki stock exchange.