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Finnair to receive a €600m load from the Finnish government

Posted on Monday, March 23rd, 2020 • News

Finnair is state-controlled, with nearly 56% of the carrier owned by the government. Although the measure still requires Finnish parliamentary consent, the government has provisionally agreed to provide a state guarantee of up to €600million.

Finnish minister Tytti Tuppurainen, says “the government is a responsible owner and the situation is such that the state must support Finnair. We want to make sure that Finnair’s operations are not interrupted.”

Finnair chief executive Topi Manner says the air transport industry is dealing with the “biggest crisis” in its history.

“With the state guarantee, Finnair aims to further solidify its cash position and business continuity even if the coronavirus situation prevails longer than currently anticipated,” the airline says.

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