EUR 79.5mil Allocated to Bail Out Croatia Airlines | Beta Briefing

EUR 79.5mil Allocated to Bail Out Croatia Airlines

Source: Beta/Total Croatia News
Archive / SEE Business | 16.12.20 | access_time 11:30

Croatia Airlines

The government of Republic of Croatia approved on December 14, state aid for the national flag carrier, Croatia Airlines amounting to HRK 600 million (around 79,5 million euros), HRK 350 million of which refers to investing fresh capital in the company and HRK 250 million as an equity loan.

The decision was made in line with the European Commission's temporary framework allowing member states to provide additional support to the business sector due to the COVID-19 pandemic. Thus, CA has been given support in an effort to resolve the its liquidity problems and to boost its capital, Total Croatia News reported.

Transport and Infrastructure Minister Oleg Butkovic said that the pandemic has had and still has a destructive impact on the global airline industry which is faced with the most difficult crisis ever.

Croatia Airlines is not an exception, said Butkovic, explaining that other airlines have recorded a decrease in traffic of 65% to 90% compared to 2019.

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