On Friday 16 February, the Commission announced that, following its in-depth investigation, it had concluded that Blue Air’s restructuring plan was incapable of restoring the airline’s long-term viability. The Commission therefore ordered the recovery of Romanian state aid totalling €33.84 million plus interest, deemed incompatible with European competition rules.
In August 2020, the Commission approved a public guarantee for Blue Air of around €28 million to cover the damage caused by the Covid-19 epidemic and a public guarantee of around €33.84 million for a rescue loan to cover a portion of the company’s liquidity needs for the following six months.
In April 2021, Romania submitted a restructuring plan to the Commission. It also repaid the loan and took a 75% stake in Blue Air after the company suspended operations in September 2022. In March 2023, Blue Air requested the opening of pre-pack proceedings.
The Commission considered that the restructuring plan was inadequate and unrealistic. In addition, it appears that the plan was not supported by sufficient financing on the market from investors, beyond the rescue period and without causing distortions of the market in question. (Original version in French by Émilie Vanderhulst)