Finland plans to help Finnair with E400m loan

Finland is preparing to support national carrier Finnair with an unsecured hybrid loan of up to E400m, the company said Wednesday. The Finnish government said the COVID-19 pandemic’s second wave had led to a slower than expected recovery in air traffic, resulting in heavy losses for Finnair as it operates at around 10% of normal capacity. “The state is committed to acting as a responsible anchor owner for Finnair,” said Tytti Tuppurainen, the minister in charge of state ownership policies. “Finland’s geographic location is challenging and therefore we will not manage without functioning air connections.” Finland has kept some of Europe’s strictest travel restrictions in place throughout the pandemic.<br/>