The Spanish Government is preparing urgent financial aid for Iberia to prevent the airline’s collapse due to the stoppage of flights. Following the example of other European countries such as France and The Netherlands, who already released “soft loans” for Air France and KLM.
Until now, Spain waited for the European Commission to finish outlining the new legal framework for public aid to strategic companies, but other countries have already gone ahead to offer these state aids to their local carriers due to urgent need for liquidity.
Like every airline, Iberia is experiencing financial liquidity problems that are worsening as aviation has come to a complete standstill. In parallel, the subsidiary of International Airlines Group (IAG) is negotiating with banks for a credit line of around 1 billion to pay the most urgent bills. Iberia declined to comment on this matter.
Source: El Gobierno prepara ayudas urgentes para Iberia (El Pais)
This post was published on 28 April 2020 13:08
Danish drone manufacturer Sky-Watch has been selected under a NATO Support and Procurement Agency (NSPA)…
Boeing expects global air cargo traffic to double over the next two decades, supporting a…
At least 64 people have died after two high-speed passenger trains collided near Urda, in…
British Airways has launched its winter 2026/27 programme with a new London Gatwick–Colombo service, increased…
Air France will increase capacity to the Americas, Asia and the Iberian Peninsula during winter…
Lufthansa and Frankfurt Airport operator Fraport have inaugurated a redesigned departure area at Terminal 1’s…