Deutsche Bank saves Naviera Armas with a 100 million euro loan

Deutsche Bank has granted a loan of between 100 and 150 million euros to ferry company, Naviera Armas Trasmediterránea, after SEPI denied them a public bailout at the end of June. This was announced yesterday by the newspaper El Confidencial, which revealed that Armas will receive this loan at an interest rate of between 5% and 6%.

The German bank believes that the future of Naviera Armas, which financial difficulties before the pandemic, after losing 34 million euros due to problems digesting the purchase of Trasmediterránea from Acciona for 260 million euros in 2018.

Naviera Armas was started in Lanzarote in 1941 and has become the most important shipping company in the Canary Islands, and one of the main ones in Europe in the maritime passenger and Ro-Ro transport sector.

They transport more than 5 million passengers a year, with 26 national and international destinations, 14 Fast Ferries, two of them ultra-modern, (Volcán de Tagoro and the Volcán de Taidía), 8 ferries, and 4 Ro-Ro, that is, a fleet of 26 ships.