ECONOMY

Cash boost proposed for Aegean Airlines

cash-boost-proposed-for-aegean-airlines

The Greek government has sent a proposal to the European Commission for providing assistance to Aegean Airlines.

If it is approved, the Greek carrier would receive 120 million euros from the state and at least €60 million from its stakeholders, Kathimerini understands.

The participation of the shareholders, through a share capital increase, constitutes a necessary condition for the granting of state assistance in compensation for losses accrued as a result of the lockdown, while the state is also seen providing guarantees for the airline’s shares.

The proposal forms part of a support package presented by EU states for their carriers.