Corsair Recapitalization: The Struggle for Financial Stability Amidst Pandemic Challenges

2023-12-19 18:45:39

Without the arrival of these funds, the third French company risked bankruptcy in the medium term. Fourmy Mario/ABACA

STORY – The French company wants the State to cancel part of its tax and social debt.

This lasts for a year. The airline Corsair recently made no secret of the fact that it needed to be recapitalized to the tune of 30 million euros. “Corsair has no cash flow difficulties and is doing well, with very strong sales, declared its boss, Pascal de Izaguirre, in December 2022. But, as in all other companies, the financial debt must be renegotiated.”

Clearly, the French carrier, which mainly serves overseas (the Antilles, Reunion Island, Mayotte, etc.), needed this injection of new money to repay its loans taken out during the pandemic. Because, despite the restart of activity, the company did not generate profits during the 2022-2023 financial year ending in September. Worrying, as many companies have returned to profit from 2022, thus definitively turning the page on Covid. Moreover, for around twenty years, Corsair has always been in the red.

Get out of the rut

In any case, in the absence of the arrival of these…

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