Croatia’s government gives go ahead for Zagreb airport to borrow €19.5mn from EBRD

By bne IntelliNews May 15, 2021

Croatia’s government decided to allow the operator of the Zagreb airport, MZLZ, to borrow €19.5mn from the European Bank for Reconstruction and Development (EBRD), it said in a statement on its website.

The company needs fresh cash to meet its liquidity needs as it has suffered severely from the coronavirus (COVID-19) pandemic.

In 2020, the turnover of the Zagreb airport shrank 73% y/y to €58mn.

MZLZ is restructuring Zagreb airport’s costs and was allowed by its creditors to borrow the €19.5mn from the EBRD. However, the company will have to ban the distribution of profits to shareholders, as well as to freeze payment of a €38.5mn debt of concession-holders to shareholders.

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