Finnair has extended the period over which it will repay a largely state-guaranteed loan, as it seeks to shore-up its financial position amid the business restructuring prompted by its exclusion from Russian airspace.
The agreement relates to a 600 million ($633 million) loan from a pension fund 540 million of which was guaranteed by the Finnish government and 60 million by a commercial bank received by the Oneworld carrier at the height of the pandemic in 2020. The European Commission approved the loan and guarantees in May 2020 andFinnair drew it down in three tranches across the remainder of the year.
While the loan was originally due to be repaid in two 300 million tranches in December 2022 and June 2023, its maturity has been ext…
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