Austrian Airlines: loan installments of 60 million euros repaid in 2021

WEBWIRE


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• Corona point out assist: Next financial loan installment of 30 million euros at the close of the calendar year
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• Liquidity remains secure in spite of ongoing pandemic
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• Austrian Airlines many thanks the Federal Government, all personnel and prospects for their assistance

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Right after the early repayment of the initially personal loan installment of 30 million euros in July 2021, Austrian Airways repays yet another 30 million euros on 31 December 2021. By the stop of 2021 the countrywide carrier has repaid the initial 60 million euros of the state-assured personal loan with a full of 300 million. Despite the ongoing pandemic, the pink-white-crimson airline is fulfilling its obligation and satisfies the money agreements as prepared.

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Austrian Airways board member Michael Trestl: “The corona pandemic has brought about the worst disaster in our company’s background. Devoid of the support of the Austrian Federal Federal government and other stakeholders, the continuance of Austrian Airlines as these kinds of would not have been achievable. We are very pleased that we have presently repaid a fifth of our fiscal assist and that we are fulfilling our obligations as promised. All of this in spite of the actuality that the pandemic is going on lengthier than we all hoped. We will proceed with this route in order to go on as the pink-white-red carrier at Vienna Airport who connects Austria and the earth! “

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In June 2020, Austrian Airways received a corona assist offer totaling 600 million euros, 150 million euros as an fairness contribution from Lufthansa and a additional 150 million euros as state deal with for damages. The remaining 300 million euros were being certain by the Republic of Austria as a mortgage by financial institution financing. The financial loan is to be repaid in 50 %-yearly installments by 2026. The state assist offer ensured Austrian Airlines’ continuance as a method-pertinent lover at the Vienna hub and for the Austrian economy.

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