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Europe Daily Bulletin No. 11227

10 January 2015
Contents Publication in full By article 20 / 27
ECONOMY - FINANCE - BUSINESS / (ae) state aid
Cyprus Airways must repay unlawful aid

Brussels, 09/01/2015 (Agence Europe) - On Friday 9 January, the European Commission ordered that Cyprus recover state aid totalling €102 million, including capital of €31.3 million, granted in 2012 to Cypriot airline Cyprus Airways. Companies may only be granted restructuring aid once every ten years, but the Commission explains that Cyprus has not provided any evidence that Cyprus Airways faced exceptional and unforeseeable circumstances that would justify an exemption being made to the...

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