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Europe Daily Bulletin No. 8189

11 April 2002
Contents Publication in full By article 25 / 36
GENERAL NEWS / (eu) eu/transport
TAP refinancing measures are not State Aid

Brussels, 10/04/2002 (Agence Europe) - The European Commission has decided not to raise any objection to the refinancing measures of the Portuguese airline, TAP. It considers the measures are not State aid, since there is no public investment. The plan provides for the release of mortgages and/or negative pledges over four of its A340 aircraft, in order to authorise TAP to use these aircraft as a new security for additional loans. The aim is to allow it to meet its financial commitments,...

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