10 million additional Euros for Air Austral

To deal with the air transport crisis caused by the pandemic, the state grants 10 million additional Euros for Air Austral. A new extension in the form of a loan on 28 January 2022.

extension of 10 EUR million

Air Austral obtained an extension of 10 million, only ten days after the release by the French State.

Tuesday 18 January 2022, the European Commission has approved the granting of rescue aid amounting to 20 million euros in favor of Air Austral, strongly impacted by the persistence of the pandemic and its consequences.

The state “will pay 30 million euros under the economic and social development fund program (FDES), through Natixis, in the form of a loan for the benefit of the company Air Austral SA”, specifies a decree published in “Official newspaper.

The office of the Minister Delegate for Transport, Jean-Baptiste Djebbari, indicated that this loan constituted “an update of the amount of the loan already granted in August 2021”, who was from 20 EUR million.

10 million additional Euros for Air Austral

130 million euros in total loans

With those 10 additional million, the total amount of direct and state-guaranteed loans to the airline to deal with the pandemic-induced air transport crisis reached 130 EUR million.

When the announcement of the granting of aid for the rescue of 20 million, the company, which serves several destinations in the Indian Ocean and the mainland from Reunion, promised to present “in the six months to come, a restructuring plan that guarantees the continuity of its activity over the long term as well as the sustainability of its jobs.

Debts

Air Austral, who employed 848 late people 2021, is held at 99 % by a semi-public company bringing together the Region (73,5 %), the deposit fund (13,6 %) and the Department (11,4 %). In addition to government loans, Air Austral borrowed 55 million euros from its shareholders.

The company had closed, a March 2021, his exercise 2020-2021 on a net loss of 76 million euros and a fall in turnover of 55 % over a year to 185 EUR million. She was in debt 2021 at height of 161 EUR million, excluding shareholder loan.

Reunion Flights – Madagascar

Currently, Air Austral carries out two weekly flights between Reunion Island and Madagascar, which take place every Tuesday and Friday by Airbus A220.

If you want to go to Madagascar, it is possible with Air Austral, by following the sanitary procedures in place.

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