ALERTS: STATE AID - EUROPEAN UNION - FINLAND - HEALTHCARE - AIR TRANSPORT - GUARANTEE - COMPATIBILITY - COVID-19

COVID-19: The General Court of the European Union holds that a guarantee granted by Finland was necessary to remedy the serious disruption to the Finnish economy caused by the Covid-19 pandemic (Ryanair)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. By judgment of the same day in case T-388/20the Court of First Instance also validates the individual aid measure adopted by Finland to support its national airline, Finnair, in dealing with the consequences of the Covid-19 pandemic. The measure in question aims at helping Finnair to obtain a loan of EUR 600 million from a pension fund to cover its working capital needs. The State guarantee covers 90 % of the loan and is limited to a maximum duration of three years. The remaining 10% of the loan is covered by a commercial bank at market conditions. The guarantee is intended to be triggered only in the event of Finnair's defaulting on the pension fund. It

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Author

  • L’actu-concurrence (Paris)

Quotation

Alain Ronzano, COVID-19: The General Court of the European Union holds that a guarantee granted by Finland was necessary to remedy the serious disruption to the Finnish economy caused by the Covid-19 pandemic (Ryanair), 14 April 2021, Concurrences N° 3-2021, Art. N° 100201, www.concurrences.com

Visites 191

All reviews