Brussels, 19/01/2009 (Agence Europe) - On Monday 19 January, the European Commission decided to authorise rescue aid for Austrian Airlines.
The Commission examined the rescue aid and found it complied with Community rules. It concluded that aid was warranted and in line with the provisions of the Community framework for rescue and restructuring of firms in difficulty. The aid is in the form of a loan guarantee for €200 million granted at market rates. Also, the amount of the aid is limited to what is needed to manage the company. Monday's decision deals only with a short-term measure to tackle liquidity problems that Austrian Airlines has encountered as a result of the financial crisis. It does not therefore concern the planned sale of Austrian Airlines to Lufthansa or the long term plans of the airline which have also been notified to the Commission by Austria as possible state aid and are still being examined. (O.L./transl.jl)