Globalia and Sepi appoint the Board of Air Europa, chaired by Hidalgo

Destinations

The new council is composed, at the proposal of Globalia, by Juan José Hidalgo as president; Miguel Ángel Sánchez Jiménez, current general director of the Group and head of the Economic and Financial Department, as a member; and Ramiro Campos Gallego, director of Legal Advice of the tourist group, as secretary.

At the proposal of the Sepi by José Ángel Partearroyo Martín, lawyer, current director of Participadas in the public holding company with extensive professional experience also in private companies, and Juan Manuel Bujía Lorenzo, aeronautical engineer and with a long career in the sector, as members .

This Wednesday the monthly meeting of the Monitoring Commission was also held, aimed at facilitating compliance, monitoring and control of the execution of the viability plan presented by Air Europa before accessing the financial aid.

On November 3, the Spanish Government approved in the Council of Ministers the rescue of Air Europa of 475 million euros in two tranches -a participative loan for the amount of 240 million euros and an ordinary loan of 235 million-, considering that The airline is a strategic company for the Spanish economy and whose viability was at risk due to the coronavirus pandemic.

Both loans are backed by Globalia’s corporate guarantee, as well as by the commitment to establish a mortgage on the Group’s headquarters in Pozuelo and Palma de Mallorca. The interest rates set for the participative loan are those contemplated in the annex to the agreement of the Council of Ministers of July 21 and in the Temporary Framework of the European Commission.