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The Council of Ministers has approved the injection of 111 Million Euros of public funds to the regional airline Air Nostrum. The operation, approved just a week ago by the SEPI’s Fund’s Management Board, will be channeled through a participative loan.
The president of Air Nostrum, Carlos Bertomeu, sees this temporary aid as very positive, which will allow the company to overcome “an unexpected situation caused by the pandemic, which broke a trajectory of financial strength and six years of continuous profits.” “At Air Nostrum, we continue to focus on consolidating our position as a benchmark in the field of European regional aviation,” he indicated.
Air Nostrum, incorporated in 1994, is an airline specializing in passenger transport, based in the Valencian Community, which in 2020 experienced a drop in sales of 40% and losses of 144 million euros due to the fall in activity resulting from covid-19.