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Additional amending budget: Credit guarantees to airlines as a result of the coronavirus

19 March 2020 klockan 16.00

During 2020, the Government will have the right to issue credit guarantees of up to SEK 5 billion for loans to airlines that on 1 January this year had a Swedish permit to operate commercial aviation and who have their main operations or headquarters in Sweden.

This means that the state will guarantee the loans that the airlines are given from commercial banks. The reason for this is the spread of the coronavirus, which has resulted in a dramatic fall in the demand for air travel. Airlines are in an emergency economic situation and have difficulties securing loans.

The Riksdag voted in favour of the Government's proposal. The matter was decided even though it had been available for less than two weekdays before the day it was considered by Parliament, which is customary. The credit guarantees must be registered and approved by the European Commission before they can be issued.

The Government may only submit additional amending budgets if it considers that there are special reasons to do so. The extraordinary situation that airlines have found themselves in as a result of the coronavirus constitutes such reasons according to the Government, and the Riksdag agreed with the Government.