In total, Air Nostrum has already paid SEPI €20 million in principal and €21.6 million in interest.
The total amount paid by Air Nostrum on the financial obligations incurred by the company during the pandemic now stands at €140.2 million.
VALENCIA, DECEMBER 29, 2025
Air Nostrum made today an early repayment of €20 million to SEPI.
This repayment reduces the principal of the €111 million participating loan granted to the airline using FASEE funds.
Air Nostrum also paid €809,550 today in outstanding interest on the repaid principal.
The Funds to Support the Solvency of Strategic Companies (FASEE) were created to offset the impact of the pandemic on the balance sheets of solvent companies considered strategic to the national productive and economic fabric, and they were crucial in enabling Air Nostrum to maintain its operations.
In 2020, Air Nostrum lost €140 million after being forced to suspend all its flights for months due to the Covid-19 crisis, and to operate for the remainder of the year with severe restrictions on flight occupancy and destinations within its usual network.
The loan was approved on May 31, 2022, after a thorough 13-month analysis of Air Nostrum's economic and legal situation. During this period, SEPI (the Spanish State Holding Company) and Grant Thornton (a third-party advisor hired by SEPI for this purpose) reviewed the viability plan submitted by the company.
Following the restructuring of the amortization schedule without debt forgiveness in December 2024, it was agreed that the entire principal and remaining interest would be repaid in a single payment in 2028. After today's early repayment, the outstanding principal amount has been reduced to €91 million.
In total, Air Nostrum has already paid SEPI €20 million in principal and €21.6 million in interest corresponding to the aforementioned participating loan.
ICO and Commercial Bank Loans
Regarding the other loans that Air Nostrum took out in 2020 as a result of the health crisis, of the €133 million in ICO-backed loans signed with both commercial banks and the ICO itself, the company has already repaid €75 million in principal and €23.6 million in interest.
Therefore, the total amount amortized by Air Nostrum to date, corresponding to the financial obligations contracted by the company during the pandemic amounts to 140.2 million euros.
