The Council of Ministers gave authorization to the Management Council of the Fund to Support the Solvency of Strategic Companies to approve the temporary public support requested by Air Europa Holding, S.L.U, Air Europa Líneas Aéreas, S.A.U, and Aeronova, S.L.U due to the COVID-19 pandemic.
The total amount of aid is 475 million euros, where 240 million will be given in the form of participative loan and 235 million will be given in ordinary loan. The beneficieries have a maximum of 6 years to pay back the loan received. Interest rates regarding the participative loan can be seen in the Temporary Framework of the European Union and the agreement of the Council of Ministers on July 21 2020.
This fund was approved by the Government in July 2020, to provide temporary support for non-financial companies affected by the COVID-19 pandemic that are essential for the national and regional productivity level in Spain.