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Image header Agence Europe
Europe Daily Bulletin No. 8165
Contents Publication in full By article 31 / 54
GENERAL NEWS / (eu) eu/transport

Investigation into Greek State aid to Olympic Airways

Brussels, 06/03/2002 (Agence Europe) - On Wednesday, the Commission decided to open an investigation against Greece concerning the use of aid granted to Olympic Airways. It suspects that the conditions set in 1994 and 1998 for authorising such aid were not met. It also hopes to examine the details of a loan of EUR 19.5 million granted in February to Olympic Airways, this loan being "apparently aimed at redressing operational difficulties of the company for the period November 2001-February 2002", states a press release. On the basis of complaints filed in October 2000 and July 2001, the Commission has "serious doubts" about the advantages that could be given to Olympic Airways compared to its rivals, of the payment of airport duties, rents and levies due to the Greek State and to Greek airports. It also suspects that Olympic Airways has not been treated from the fiscal point of view like a public limited company, unlike the commitments taken in 1994 and 1998. Finally, the Commission notes that the airline company did not achieve the aims of its restructuring plan, and that the privatisation process begun in December 2000 has still not been completed.

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