5/26/2020, 7:28 PM (Source: TeleTrader)
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Austrian Airlines to receive €300M loan from govt

Lufthansa's subsidiary Austrian Airlines and the Austrian government agreed over state-guaranteed loans for the airliner, local newspaper Kurier reported on Tuesday.

Austrian Airlines will be granted 300 million euro loan with a maturity of six years, in line with the agreement reached between COFAG, the government agency in charge of administering the COVID-19 rescue fund and Erste Group. The state-guaranteed loans will be secured with Austrian Airlines' aircraft and an equity interest in the airline company.

Yesterday, Germany's economic stabilization fund (WSF) approved an aid package for Lufthansa of up to €9 billion.

Baha Breaking the News (BBN) / SR