Finnair negotiates loan covenant as losses rise

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By Mike Turner
27 Apr 2021

Finnair has renegotiated the covenants on its €175m revolving credit facility, as the company endured a quarter of sizeable losses and increased its annual cost savings target for the third time since the coronavirus pandemic began.

The company’s revolver was most recently refinanced in January 2019. It has a three year maturity and two one year extension options. The maturity and pricing will remain the same after the renegotiations, a company spokesperson confirmed.

Finnair’s lending group has agreed to move the adjusted gearing date used ...

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