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Athens News Agency: News in English, 05-09-14
CONTENTS
[01] EU Commission rules state aid extended to Olympic Airways illegal
[01] EU Commission rules state aid extended to Olympic Airways illegal
The European Commission on Wednesday ruled that Greece's ailing
national carrier Olympic Airlines (formerly Olympic Airways) must
return tens of millions of euros to the State, opining that a number of
measures taken by the Greek state since December 2002, including state
financial aid, were illegal as they gave OA an unfair advantage over
competitors. This decision closes an investigation, which started on 16
March 2004, into the state aid granted to OA since December 2002, when
OA was ordered to repay 160 million euros to the Greek state for aid
granted to the airline between 1994-2000.
The Commission, in its long-awaiting decision said that between 1994
and 2000 the EU's executive took a number of decisions authorising
public aid for the restructuring of Olympic Airways. In December 2002,
however, the Commission found that further aid had been granted to the
airline which was incompatible with the common market, and demanded
that 160 million euros be repaid.
That aid has still not been repaid.
The exact amount to be recovered by the Greek state will be defined
during the execution of today's decision.
Meanwhile, OA employees staged a protest demonstration at Athens'
Eleftherios Venizelos international airport on Wednesday.
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