Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.
Factsheet for measure PL-2021-7/1882 – Updated – measures in Poland
|Country||Poland , applies nationwide|
|Time period||Temporary, 09 February 2021 – 08 February 2027|
Supporting businesses to stay afloat
– Access to finance
|Author||Jan Czarzasty (Warsaw School of Economics)|
|Measure added||19 April 2021 (updated 27 May 2021)|
Enter Air signed an agreement with the Polish Development Fund (PFR) under which it is to receive a liquidity loan from the Financial Shield 2.0 (for large companies) in the amount of PLN 287 million (about €60 million). As the official communication reveals: "The agreement contains standard provisions used for agreements of similar size, including - among other provisions - collateral on the company's assets".
Enter Air is the largest Polish private airline, in operation for ten years, and one of the largest charter airlines in Europe in terms of fleet. Enter Air's fleet consists of 22 Boeing 737-800s and two Boeing 737 MAX8s.
Apart from the statement of the company that "The agreement contains standard provisions used for agreements of similar size, including - among other provisions - collateral on the company's assets" no further details were communicated either by the Enter Air or PFR. Under the Financial Shield for large companies standard provisions for liquidity loans determine that the loan can be used only for such purposes as:
Liquidity financing shall take the form of an interest-bearing and non-matured loan with a term of up to 6 years.
The following updates to this measure have been made after it came into effect.
|21 May 2021||
This measure will remain valid until 8 February 2027 at the latest, as six years is the maximum period during which the loan has to be repaid.
The loan has been granted.
|Does not apply to workers||
||Does not apply to citizens|
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Role||No involvement||No involvement|
|Form||Not applicable||Not applicable|
Social partners' role in the implementation, monitoring and assessment phase:
No engagement of social partners known.
No views of social partners registered.
This case is sector-specific (only private sector)
|Economic area||Sector (NACE level 2)|
|H - Transportation And Storage||H51 Air transport|
This case is not occupation-specific.
Eurofound (2021), Enter Air signs loan agreement for €60 million, measure PL-2021-7/1882 (measures in Poland), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/PL-2021-7_1882.html
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