January 28, 2023

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

WEBWIRE


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• Corona state support: Next bank loan installment of 30 million euros at the stop of the yr
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• Liquidity stays secure in spite of ongoing pandemic
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• Austrian Airways thanks the Federal Authorities, all personnel and consumers for their guidance

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Immediately after the early repayment of the initial bank loan installment of 30 million euros in July 2021, Austrian Airlines repays an additional 30 million euros on 31 December 2021. By the finish of 2021 the national provider has repaid the 1st 60 million euros of the state-confirmed mortgage with a complete of 300 million. In spite of the ongoing pandemic, the purple-white-pink airline is fulfilling its obligation and fulfills the fiscal agreements as planned.

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Austrian Airlines board member Michael Trestl: “The corona pandemic has caused the worst crisis in our company’s record. With no the assistance of the Austrian Federal Govt and other stakeholders, the continuance of Austrian Airlines as these types of would not have been feasible. We are proud that we have presently repaid a fifth of our economical assist and that we are satisfying our obligations as promised. All of this in spite of the actuality that the pandemic is going on more time than we all hoped. We will carry on with this path in purchase to go on as the crimson-white-purple provider at Vienna Airport who connects Austria and the world! “

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In June 2020, Austrian Airways been given a corona support package deal totaling 600 million euros, 150 million euros as an fairness contribution from Lufthansa and a further 150 million euros as state deal with for damages. The remaining 300 million euros have been certain by the Republic of Austria as a loan via lender funding. The mortgage is to be repaid in fifty percent-yearly installments by 2026. The state help package ensured Austrian Airlines’ continuance as a program-applicable lover at the Vienna hub and for the Austrian economic climate.

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