Spanish Government approves EUR475m credit line to Air Europa

Spain's Government authorised (03-Nov-2020) a EUR475 million rescue package for Air Europa Lineas Aereas, financed by Spain's strategic companies assistance fund. The loan will conditions will allow the government to appoint two board members (Reuters/City AM, 03-Nov-2020). The carrier will have six years to repay the loan. The government wants to influence negotiations in the Iberia-Air Europa merger. IAG CEO Luis Gallego commented on plans to acquire Air Europa, stating: "We are waiting to see the package and the conditions attached, and at that moment we will continue negotiations". [more - original PR - Spanish]