BUSINESS

Aegean Airlines prepares for share capital increase

aegean-airlines-prepares-for-share-capital-increase

As the airline industry continues its preparations for what will hopefully be a strong tourism season, Aegean Airlines is also about to determine the terms of its share capital increase, by at least 60 million euros, that the extraordinary general meeting of the Greek flag carrier approved last Friday.

This process will be necessary for the payment of the state subsidy of €120 million to the airline, in accordance with the provisions of European legislation.

Once the capital increase is implemented, the state must disburse its support within 20 days. In 2020 Aegean showed after-tax losses of €230 million.