October 12 (SeeNews) - Romania's state-owned EximBank will extend a 300 million lei ($73 million/62 million euro) loan to local low-cost carrier Blue Air to help the company avoid bankruptcy due to the COVID-19 pandemic, the finance ministry said.
The loan would have a term of 6 years, according to a draft government decree posted on the website of the finance ministry on Friday.
The decree will be debated upon for 10 days and then submitted to the government for final approval.
The loan will help Blue Air compensate for the economic lossesit suffered as a result of the pandemic in the March-June 2020 period, and to partially cover liquidity needs during September 2020 - February 2021, the draft bill showed.
Last month, Blue Air announced that it will launch seven new international routes from Bucharest starting December 18, as it is expecting higher demand during winter holidays.
(1 euro=4.8718 lei)
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