The European Commission has approved the state guarantee for the loan of around EUR 62 million to Blue Air
The COVID-19 pandemic has plagued the entire aviation industry in the world, and hundreds of airlines have been affected. Millions of canceled flights, tens of millions of passengers affected by unpaid flights, plus travel restrictions imposed by most countries in the world have led to the crash of commercial aviation.
Inevitably, TAROM and Blue Air are among the affected airlines. Since May, there has been talk of support from the authorities, which is long overdue. But we are convinced that in the end the Romanian companies will be saved.
The European Commission has approved, in accordance with EU state aid rules, the loan guarantee for approximately EUR 62 million (approximately 300 million lei) to Blue Air. The state guarantees credit to Blue Air, but with one condition. He wants a refund in 6 years, during which time will impose 2 representatives in the management of the low-cost airline.
At the end of July, Blue Air sent a desperate message to the Romanian Government. The Emergency Ordinance on aid to Blue Air and TAROM has been approved. The European Commission has approved. All that remains is for the money to end up in the airlines' accounts.State_aid__Commission_approves__62_million_Romanian_loan_guarantee_to_compensate_Blue_Air_for_damage_suffered_due_to_coronavirus_outbreak_and_provide_the_airline_with_urgent_liquidity_support