Banking & Finance, EU & Competition / 24 Mar 2021

Borenius secured EUR 350 million in support for Finavia before the European Commission

The European Commission has approved, under the EU State aid rules, three Finnish measures that have an overall budget of EUR 350 million to support airport operator Finavia in the context of the coronavirus outbreak.

Executive Vice-President Margrethe Vestager, who is in charge of the competition policy, said:

“Finavia, as many other companies active in the aviation sector, has been hit very hard by the outbreak and has been suffering significant losses as a result of the travel restrictions that Finland and other countries had to impose to limit the spread of the virus. This EUR 350 million support package will enable Finland to support the airport operator in different forms, namely a capital injection, a subordinated loan and a measure to partly compensate the company for the damages directly linked to the outbreak.

Borenius represented Finavia before the European Commission and assisted the company on the financial documentation.

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