NEWS

EU clears 120 million euros to support Greece’s Aegean Airlines

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EU regulators approved on Wednesday a state grant of 120 million euros ($146.48 million) for Greece's national carrier Aegean Airlines to help the airline with damage suffered during the coronavirus crisis.

The support consists of a direct grant of 120 million euros, an amount that does not exceed the estimated damage directly caused to the airline between March 23 and June 30, the EU Commission said.

"This measure will enable Greece to compensate Aegean Airlines for the damage directly suffered due to the travel restrictions necessary to limit the spread of the coronavirus," the European Union's antitrust chief, Margrethe Vestager said in a statement.

[Reuters]