Spanish government bails out Volotea with a €200 million loan

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The Spanish government has approved a €200 million (US$214 million) rescue loan for the airline Volotea to help it recover from the pandemic crisis, according to the Presidency of the Government.

The company’s shareholders will contribute 10 million euros in cash to boost the airline, which operates within Spain and to and from several other European cities.

Volotea to add six Airbus A320s to its fleet by 2022.

“This loan will allow for solid growth of the company in the long term,” Volotea said in a statement.

Since the start of the 2020 pandemic, the Spanish government has provided financial support to two other airlines operating in Spain, Plus Ultra and Air Europa.

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