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Last weekend The National Government announced the approval of a loan for Avianca, with which the company hopes to cover the costs of its operation after the crisis caused by Covid-19.
(National Government will grant loan to Avianca).
However, Avianca was not the only one to request this type of lifeline from the government. In May, four of the six airlines that operate in the domestic market, in addition to Avianca, submitted requests for financial support to the Management Committee of the Emergency Mitigation Fund (Fome) for their evaluation.
The Ministry of Finance received requests from Latam, Viva Air, Easy Fly and Satena.
All requests amount to USD $ 1,070 million, which are distributed as follows: Avianca: USD $ 875 million, Latam: USD $ 117M, VivaAir: USD $ 55M, EasyFly: USD $ 14M, and Satena: USD $ 9M.
For now, it has only been approved the loan to Avianca for 370 million dollars, which represents less than half of the request made to the Government.
The aid application includes a term between 8 and 10 years, a grace period between 2-4 years, and an interest rate between 4 and 8%.
