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Austrian Airlines Repays State Loan Ahead of Schedule
Austrian Airlines recently announced that it plans to repay the government loan granted in 2020 to bridge the COVID-19 pandemic by the end of 2022. This is possible due to the increasing number of passengers and a particularly profitable summer.
Due to the high liquidity after a strong summer quarter and a credit line from the German parent company Lufthansa, Austrian Airlines was able to repay the loan early. / Picture: © Austrian Airlines / Flickr Attribution-NonCommercial-ShareAlike 2.0 Generic (CC BY-NC-SA 2.0)
The crisis-ridden Austrian Airlines is back on track for success. After a record summer, the airline managed to return to profitability and was able to repay the government loan granted by the Republic of Austria in July 2020 ahead of schedule.
Of the initial 300 million euros, 210 million euros were still outstanding. Instead, a credit line was obtained from the parent company…
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