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Image header Agence Europe
Europe Daily Bulletin No. 8658
Contents Publication in full By article 17 / 37
GENERAL NEWS / (eu) eu/state aid

Olympic Airways subject to new inquiry

Brussels, 03/03/2004 (Agence Europe) - The European Commission intends to begin a new inquiry into aid paid to the Greek airline, Olympic Airways, announced AFP, quoting Community sources. The Commission is looking into the payment of EUR 130 million for funding the restructuring and privatisation of the company and the failure to pay back an airport modernisation tax paid by passengers, which amounts to EUR 26 million. The Commission would also like to examine more closely the methods the Greek state used to constitute the new Olympic Airlines company, which took over the business from the former company while leaving its liabilities. At the end of 2002, the Commission had already ordered Olympic Airways to reimburse EUR 194 million of illegal aid it had received but instead of carrying this out, the company continued to received aid from the Greek government (which in the meantime had taken the case to the European Court of Justice).

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