News & Views

Hannes Snellman Counsel to the State of Finland in the EUR 400 Million Hybrid Loan Arrangement with Finnair

22 March 2021

Hannes Snellman acted as counsel to the State of Finland in the hybrid loan arrangement of a maximum of EUR 400 million to support Finnair Plc in relation to the COVID-19 pandemic, including advising in the State Aid notification procedure before the European Commission. The arrangement was approved by the EU Commission in accordance with the State’s notification and in line with the EU’s state aid rules to the amount of approximately EUR 350 million with a subsequent approval being sought later for the remaining EUR 50 million.

Our core team included Riikka Rannikko, Markus Bremer, Mikko Huimala, Klaus Ilmonen, Heikki Majamaa, Mikko Tavast, and Meri Vanhanen.