Finnish govt agrees to guarantee E600m loan to Finnair

Finland’s govt has provisionally agreed to provide a state guarantee of up to E600m to Finnair, although the measure still needs parliamentary consent. Finnair is state-controlled, with nearly 56% of the carrier owned by the govt. The minister for ownership steering, Tytti Tuppurainen, says the govt is a “responsible owner” and the situation is such that the state “must support” Finnair. “The company maintains the route connections that are very important for Finland’s security of supply, freight and passenger traffic, and the company has a significant impact on our economy,” she adds. The govt says Finnair is preparing for the possibility of having to borrow occupational pensions to secure additional funding if other sources of financing become unavailable. <br/>