European Foundation
for the Improvement of
Living and Working Conditions

The tripartite EU agency providing knowledge to assist
in the development of better social, employment and
work-related policies

EU PolicyWatch

Database of national-level policy measures

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

Enter Air signs loan agreement for €60 million

Enter Air podpisał z PFR umowę pożyczki na 287 mln zł

Country Poland , applies nationwide
Time period Temporary, 09 February 2021 – 08 February 2027
Context COVID-19
Type Company practices
Category Supporting businesses to stay afloat
– Access to finance
Author Jan Czarzasty (Warsaw School of Economics) and Eurofound
Measure added 19 April 2021 (updated 27 May 2021)

Background information

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.

Content of measure

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:

  • payment of wages and salaries;
  • trade payables, including the purchase of goods and materials or payment of other operating expenses used to produce a product or service;
  • public and legal obligations;
  • other purposes related to the financing of day-to-day operations (as set out in the Programme Financing Documents).

Liquidity financing shall take the form of an interest-bearing and non-matured loan with a term of up to 6 years.

Updates

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.

Use of measure

The loan has been granted.

Contents

  • Employment retention
  • Income protection

Target groups

Workers Businesses Citizens
Does not apply to workers Larger corporations
Does not apply to citizens

Actors and funding

Actors Funding
National government
National funds

Social partners

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 involvement
  • Main level of involvement: Company level

Involvement

No engagement of social partners known.

Views and reactions

No views of social partners registered.

Sectors and occupations

    • Economic area Sector (NACE level 2)
      H - Transportation And Storage H51 Air transport

This case is not occupation-specific.

Sources

  • 09 February 2021: Enter Air signs a loan agreement with PFR for PLN 287 million(Enter Air podpisał z PFR umowę pożyczki na 287 mln zł) (www.bankier.pl)
  • 10 February 2021: Enter Air to receive PLN 287 loan from PFR (Enter Air otrzyma 287 mln zł pożyczki z PFR) BIZNES I PRZEMYSŁ Enter Air otrzyma 287 mln zł pożyczki z PFR (www.rynek-lotniczy.pl)

Citation

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

Share

Eurofound publications based on EU PolicyWatch

30 January 2023

 

Measures to lessen the impact of the inflation and energy crisis on citizens

Governments across the EU continue to implement policies to support citizens and businesses in the face of rising food and energy prices caused by the COVID-19 crisis and intensified by the war in Ukraine. As winter approaches, preventing and addressing energy poverty becomes a priority. This article summarises the policy responses as reported in Eurofound’s EU PolicyWatch database from January to September 2022.

Article

12 September 2022

 

First responses to cushion the impact of inflation on citizens

Although the worldwide pandemic situation had already disrupted supply chains and triggered increases in energy and food prices in 2021, the situation deteriorated in 2022 with the Russian invasion of Ukraine.

Article

12 September 2022

 

Policies to support EU companies affected by the war in Ukraine

This article summarises the first policy responses that governments across the EU have started to implement to support companies affected by the rising prices, and those with commercial ties to Ukraine, Russia or Belarus.

5 July 2022

 

Policies to support refugees from Ukraine

This article summarises the first policy responses of EU Member States, including those of the social partners and other civil society actors, enabling refugees to exercise their rights under the Temporary Protection Directive.

Article

Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.