On Friday 12 March, the European Commission authorised €351.38 million in Finnish support for Finnair, which is in difficulty due to the effects of the Covid-19 pandemic. The aid is considered to be in line with EU state aid rules.
Finnair is a leading airline operating in Finland. It carried almost 15 million passengers in 2019.
Before the pandemic, Finnair operated a fleet of 59 aircraft. The company has suffered significant operating losses until at least 31 December 2020.
Finland has notified an aid measure to compensate Finnair for damages incurred between 16 March and 31 December 2020.
The aid will take the form of a hybrid loan. The Commission considers the pandemic to be an extraordinary event because of its exceptional and unpredictable nature and its major impact on the economy.
The Commission found that the Finnish measure would compensate Finnair for damage suffered which is directly linked to the pandemic, as the loss of revenue on all operations between 16 March and 30 June 2020 and on some routes between 1 July and 31 December 2020 can be considered as damage directly linked to this exceptional event.
It also considered that the measure was proportionate, including after June 2020. (Original version in French by Lionel Changeur)