Spanish airlines may need additional help, government says

Spain’s transport ministry is seeking to help airlines tap bank state-baked loans but more help may be needed, Minister Jose Luis Abalos said. “I do believe airlines will tap those loans, but it is possible that they may need a reinforcement to those credit-lines, which now are enough to help liquidity only in the short-term,” Abalos said Monday. “They will almost certainly need more help in the future, for treasury, and to recover their activity.” Spain has also formed a working group with Germany, France and Italy within the European Commission and may have some options on May 13, Abalos said. IAG ’s Spanish units Iberia and Vueling announced May 1 that they were tapping a combined E1b in state-backed loans.<br/>