EU clears 120 million euros to support Greece’s Aegean Airlines

·

EU regulators approved on Wednesday a state grant of 120 million euros ($146.48 million) for Greece’s national carrier Aegean Airlines to help the airline with damage suffered during the coronavirus crisis.

The support consists of a direct grant of 120 million euros, an amount that does not exceed the estimated damage directly caused to the airline between March 23 and June 30, the EU Commission said.

“This measure will enable Greece to compensate Aegean Airlines for the damage directly suffered due to the travel restrictions necessary to limit the spread of the coronavirus,” the European Union’s antitrust chief, Margrethe Vestager said in a statement.

Source: Aegean Airlines

The Greek state contribution is part of a wider investment plan, detailed a month ago, which is conditional on Aegean successfully effecting a private investor share capital increase of €60 million.

Aegean adds: ”Following today’s approval by the European Commission, the company plans to undertake all necessary corporate actions and submissions to the Capital Market Commission in the upcoming period, with the aim being to complete all necessary procedures within the first three to four months of 2021.”

Sourced By: Aegean Airlines

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Maria and Arthur: A second generation Greek Australian love story

Maria, Arthur and I grew up together in a working-class, inner-city suburb of Melbourne. This was in the late 1970s and early 1980s.

Greek series ‘Maestro in Blue’ returns for third season

Nearly two years after its debut and rise to Netflix's top 10, Maestro in Blue is set to return with its third season.

Niki Louca shares her traditional Greek recipe for halva

Niki Louca from My Greek Kitchen shares her favourite recipe for halva with The Greek Herald.

How Sarah Di Lorenzo’s pappou inspired her new cookbook ‘My Mediterranean Life’

Sarah Di Lorenzo is a wealth of knowledge regarding health and wellness. She is also a single mother of three daughters.

World Tourism Organisation lists Anogia among best villages in the world

The World Tourism Organization has named Anogia, Crete, one of the 55 best villages of the world for 2024.

You May Also Like

Pope Francis will welcome 33 asylum seekers, and more, from Lesvos to Vatican City

Pope Francis's Almoner, Cardinal Konrad Krajewski, on Monday went to the Greek island of Lesvos alongside several representatives of the Comunità di Sant'Egidio and...

Greek Australians named in Pararoos squad for IFCPF World Cup 2024

CommBank Pararoos’ Head Coach Kai Lammert and CommBank ParaMatildas' Head Coach Kelly Stirton have confirmed their squads.

‘Ange & the Boss’ captivates audiences at Sydney’s Greek Film Festival

On October 17, the much-anticipated doco 'Ange & the Boss: Puskas in Australia' took centre stage at the 29th Greek Film Festival in Sydney.