THE EUROPEAN Union is to provide financing to Belgian flag carrier Sabena for the purchase of its fleet of 23 Avro RJ85s and RJ100s. An agreement covering payment of a first loan of BFr1.2 billion ($387 million) has been signed by Sabena's chief executive officer Paul Reutlinger and Rudolphe de Korte, vice-president of the European Investment Bank (EIB).

In accordance with EIB rules the European loan covers only 50% of the total investment. The remaining BFr1 billion is being provided by Sabena. The Luxembourg-based EIB is granting EU loans to "-projects that further European mobility, both in the private and the public sectors".

Source: Flight International