The three-year facility is the second agreed between the ISIF and the airline, and brings its total borrowings from the fund to €350 million. Both tranches of funding have come from ISIF’s Pandemic Stabilisation and Recovery Fund, which was established during 2020 to support medium and large scale enterprises operating in sectors materially impacted by the pandemic.
The agreement is intended to support the airline as it tries to recover from Covid-19 restrictions curbs that have left it with losses of €700 million.
The news comes after ISIF agreed a €6 million debt facility with recently established regional airline
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