References/11 Jun 2020

Borenius gave state aid advice to Finnair on offering of EUR 500 million issued due to the COVID-19 pandemic

We assisted Finnair on state aid questions related to Finnair’s fully underwritten rights offering of approximately EUR 500 million. Finnair will use the offering to strengthen its equity and liquidity in the exceptional circumstances caused by the COVID-19 pandemic. On 9 June 2020, the European Commission decided that Finland’s participation in the share issue is compliant with EU state aid regulations under certain terms and conditions.

This is yet another demonstration of the EU and Competition team’s expertise and ability to handle even the most demanding state aid cases.

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Ilkka Aalto-Setälä