Naviera Armas has requested the help of the Spanish Society of Industrial Participations (SEPI), specifically from the ‘Support Fund for the Solvency of Strategic Companies’ (Fondo de Apoyo a la Solvencia de Empresas Estratégicas). It is the same fund that has helped Air Europa to avoid bankruptcy.
Naviera Armas Trasmediterránea said in a Spanish press release it is NOT filing or about to file for bankruptcy.
This message came after some damaging articles were published in Spanish media.
The company said that it is renegotiating debts.
“Faced with the impact of the low demand because of the COVID-19 crisis, and with the aim of preserving its liquidity and optimizing its capital structure, Naviera Armas Trasmediterránea has started talks with the representatives of the main bondholders, to refinance or restructure the bonds maturing in 2023 and 2024 that we expect to bear fruit in the coming weeks.”
“Naviera Armas Trasmediterránea guarantees all its commitments with its commercial suppliers. Likewise, Naviera Trasmediterránea guarantees the provision of all the services that it has been providing.”