Spanish Carrier Air Nostrum Seeks $123m Over Ongoing Crisis
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Spanish regional airline Air Nostrum has been forced to request financial aid in the form of loans valued at €103 million ($123.4 million) to help it cope with revenue losses brought about by the ongoing COVID-19 pandemic. In a statement released yesterday, the Valencia-based carrier said it would turn to the SEPI managed fund to access the Solvency Support Fund for Strategic Companies.
Air Nostrum lost €129 million in 2020. Photo: Getty Images
Air Nostrum was forced to go to the fund for help after closing 2020 with losses totaling €129 million ($154.5 million). The amount requested that Air Nostrum says it can pay back over seven years is one of the highest requests for the injection of public money. In its request for the money, Air Nostrum said in the statement that it needed to: