To date, the airline has made total payments amounting to 29.2 million euros, including principal and interest.
Volotea, the Spanish low-cost airline, starts 2023 fulfilling the credit obligations assumed in 2020 to coping with the effects of COVID-19. On January 27, he amortized €8.4 million, corresponding to the second tranche of the capital of the syndicated loan from Spanish banks guaranteed 70% by the ICO. In addition, in this section it has paid 3.4 million interest.
Thus, after the capital amortization carried out in July 2022, of 7 million euros, and taking into account partial amortizations and interest and in compliance with all its contractual obligations, Volotea has already carried out to date total payments amounting to 29.2 million euros.
Less than two years after its formalization, it is effectively amortizing the 145 million loan. Stephen Rapp, CFO of Voloteahas declared: “Volotea is a solid company that he had to ask for an exceptional loan motivated by a around so extraordinarily complex like COVID-19. Return to normal operations is demonstrating the capacity of the company for recuperate of a totally adverse situation, with a supply growth of 48% compared to 2019”. And has added: “The airline is fulfilling all its contractual commitments in a timely manner which demonstrates its resilience and strength”.
The volley works with a closed and specific calendar of returns credit. In this sense, it is planned to amortize the 145 million in eleven sections established in the months of January and July of each year and, thus, proceed to the full repayment of the loan in July 2028.