Brazil rescue aid for airlines to reach $680m
The rescue package to airlines in Brazil will total about 4b reais ($680m), according to people familiar to the matter. The package, which was presented to airlines on Wednesday, includes credit from development lender BNDES, which will provide 60% of the money, the people said, asking not to be named because the discussions are private. Other banks will provide another 10%, they said, adding that the companies will have to seek the remaining 30% from investment funds via capital markets. Azul, Gol Linhas Aereas Inteligentes, and Latam Airlines Group can seek the aid, the people said. The companies will use warrants to raise funds, and the price for the shares on the warrant and the dilution to current shareholders is different to each firm, one of the people said, without giving details.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-05-14/general/brazil-rescue-aid-for-airlines-to-reach-680m
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Brazil rescue aid for airlines to reach $680m
The rescue package to airlines in Brazil will total about 4b reais ($680m), according to people familiar to the matter. The package, which was presented to airlines on Wednesday, includes credit from development lender BNDES, which will provide 60% of the money, the people said, asking not to be named because the discussions are private. Other banks will provide another 10%, they said, adding that the companies will have to seek the remaining 30% from investment funds via capital markets. Azul, Gol Linhas Aereas Inteligentes, and Latam Airlines Group can seek the aid, the people said. The companies will use warrants to raise funds, and the price for the shares on the warrant and the dilution to current shareholders is different to each firm, one of the people said, without giving details.<br/>
