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