The Finnish Government has today approved that the State of Finland guarantees Finnair’s pension premium loan up to 540 million euros. With the state guarantee, Finnair aims to further secure its cash position and business continuity also after the exceptional situation caused by the corona crisis. Further, a commercial bank has guaranteed up to 60 million euros of the loan.
The arrangement is compliant with the EU state aid regulations and has been approved by the European Commission on 18 May 2020.
Finnair plans to draw part of the pension premium loan during the second quarter of 2020.