March 20, 2020 / 7:10 AM / 21 days ago

BRIEF-Finnair Has Been Proposed That State Of Finland Would Guarantee Loan

March 20 (Reuters) - Finnair Plc:

* FINNAIR STRENGTHENS ITS FUNDING POSITION. THE MINISTERIAL COMMITTEE ON ECONOMIC POLICY HAS PROPOSED THAT THE STATE OF FINLAND GUARANTEES THE PENSION PREMIUM LOAN INCLUDED IN THE PLAN

* AVAILABLE CREDIT LINES INCLUDED IN FUNDING PLAN CONSIST OF A REVOLVING CREDIT FACILITY TOTALING TO 175 MILLION EUROS

* ATUTORY PENSION PREMIUM LOAN TOTALS TO 600 MILLION EUROS

* HAS BEEN PROPOSED THAT STATE OF FINLAND WOULD GUARANTEE LOAN

* FINNISH GOVERNMENT’S MINISTERIAL COMMITTEE ON ECONOMIC POLICY HAS CONSIDERED GUARANTEE MATTER ON 19 MARCH 2020.

* PREMIUM PENSION LOAN CAN BE RAISED, IF NECESSARY

* AIMS TO FURTHER SOLIDIFY ITS CASH POSITION AND BUSINESS CONTINUITY EVEN IF CORONAVIRUS SITUATION WOULD PREVAIL LONGER THAN ANTICIPATED

* IMPLEMENTING A SUBSTANTIAL FUNDING PLAN IN ORDERTO SECURE COMPANY’S FUTURE

* PLAN INCLUDES FUNDING INSTRUMENTS SUCH AS AVAILABLE CREDIT LINES, SALE AND LEASEBACKS OF UNENCUMBERED AIRCRAFT AND PENSION PREMIUM LOAN Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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