BUSINESS

OASA, ELTA and ETAD pose threat to streamlining project

TAGS: Privatizations

The coronavirus pandemic has created major uncertainties in the project for streamlining the state corporations controlled by the Hellenic Company of Assets and Participations (EESYP) and in the privatizations program of state asset utilization fund TAIPED, according to a European Commission report released on Wednesday.

Brussels specifically cited three corporations that together post losses of more than 1 billion euros per year and are vital for the streamlining program of EESYP. They are Hellenic Post (ELTA), the Athens Urban Transport Organization (OASA) and the Public Properties Company (ETAD). Besides the pandemic, these firms are also facing cash shortages and court cases.

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