Brussels, 24/02/2011 (Agence Europe) - On Wednesday 23 February, the European Commission opened a formal investigation to examine whether the measures submitted to it in the restructuring plan of Czech Airlines comply with EU rescue and restructuring guidelines. The measures at issue consist of a loan of CZK 2.5 billion (around €94 million) granted by the state-owned undertaking Osinek under allegedly preferential conditions, its later de-collateralisation and transformation into equity capital and a potential guarantee for the purchase of an aeroplane. The Commission has opened an in-depth investigation because, as things stand, it has doubts over: - whether the measures in the restructuring plan are sufficient to restore the company's long-term viability; - whether the proposed compensatory measures will adequately address the distortions of competition brought about by the aid; - whether the company's contribution to the restructuring costs can be considered as genuine. The opening of an in-depth investigation does not prejudge the outcome. (F.G./transl.rt)