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The government is making proposals to ensure reimbursement from Norwegians for vacations reserved for the spring and summer season. But not everyone gets their canceled vacation plans compensated.
published:,
The case is updated.
The revised national budget draft makes it clear that the state will make government-subsidized loans to repay tourist packages that operators must start between March 14 and June 14, but have been canceled as a result of the virus. crown.
The loan guarantee limit will be NOK 2 billion, and will be managed by Innovation Norway. A loss provision of NOK 1 billion has been proposed.
Package travel companies can borrow up to 80 percent of their legal repayments, the Ministry of Commerce and Fisheries said Tuesday morning.
– The loan offer we are now offering is the most affordable of the loans possible under state aid standards, and we are now working to get it approved at ESA. The favorable conditions in this scheme will make it relevant for many tour package operators, says business minister Iselin Nybø in a statement.
Does not apply to anyone who has booked a vacation
For Norwegians who have spent billions of dollars on travel, not everyone gets their money back. For example, the scheme does not apply to travel or hotel stays booked directly with the provider.
Additionally, tour package operators who have been in financial difficulties as of December 31, 2019 do not qualify for the loan guarantee.
Each loan will have a maturity of six years, with an interest rate of 1.79 percent for the entire period. There will also be a risk premium depending on the size of the company, where small and medium-sized companies will have an interest rate of 2.04–1.79 percent, and larger companies will have an interest rate of 2.29 and 3.79 percent.
I wanted more than loans
Large bundled travel companies E24 has spoken to before the revised national budget, such as Ving and Berg Hansen, stated that they wanted more than just loans, but also some form of direct support or compensation.
Astrid Bergmål, director of Virke Reise, says “the great fear is that I will only get one loan,” and she hopes most of the package will be a grant. It may seem like fear has come true.
Virke believed that a potential loan guarantee should be a solid loan that, for example, can be paid by imposing a fee on future trips.
