The rescue of Air Nostrum by SEPI enters the "final phase", pending approval by the advisory council

MADRID, 17 May.

The rescue of Air Nostrum by SEPI enters the "final phase", pending approval by the advisory council


The rescue of Air Nostrum, Iberia's franchised airline for regional flights, is in the "final phase" and is awaiting approval by the managing board of the Sociedad Estatal de Participaciones (SEPI), as announced by the entity. Europe Press.

The amount of the rescue, which would be in charge of the Solvency Support Fund for Strategic Companies, is unknown, but last month the airline requested a total of 103 million euros with the aim of guaranteeing the necessary resources to face the crisis caused by the pandemic, as well as maintaining connectivity and employment.

The prolongation of the coronavirus crisis with the restrictions on passenger traffic and the expectation of a slower recovery than initially expected force Air Nostrum to take advantage of the fund managed by SEPI "to guarantee its work as a territorial backbone and promoter of tourism" .

Last year, as a result of the pandemic, the company recorded losses of 129 million euros, pending approval at the next ordinary general meeting of shareholders.

This would be the third rescue to an airline after aid to Air Europa worth 475 million euros and Plus Ultra, with 43 million euros. In addition, with this new aid, the approved financial aid files in Spain since the creation of the Fund would rise to a total of 22.

The aid comes from the aforementioned Solvency Support Fund, a tool that seeks to protect economic activity and employment in Spanish companies while the impact of the pandemic lasts. It is one of the instruments to support the economy that the Government launched, with an allocation of up to 10,000 million euros.

These operations are added to those already authorized for other important Spanish companies such as Air Europa, Ávoris Corporación Empresarial, Plus Ultra Líneas Aéreas, Duro Felguera, Tubos Reunidos, Rugui Steel, Hotusa, Grupo Airtificial, Grupo Serhs, Reinosa Forgings


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