The EU Commission has decided. The vacation airline Condor may be supported with a state aid of more than half a billion.
Germany is allowed to support the vacation airline Condor with state aid of 525.3 million euros. The approval can be traced back to several decisions of the EU Commission and, according to the information, concerns two measures, as the Brussels authority announced.
On the one hand, there is 204.1 million euros to compensate Condor for damage suffered in the corona pandemic and on the other hand, 321.2 million euros to support the restructuring of the airline. According to the information, Condor flies to 126 destinations worldwide.
The EU Commission is the top competition guardian in the bloc of states and examines whether state aid can result in unfair advantages for companies. It is believed that the pandemic, as an exceptional event, justifies exceptional interventions, the Commission communication said.
In May Condor had found a new investor, the 4050 jobs are to be kept, it said. Last year, Condor averted the impending bankruptcy and left the protective shield proceedings on December 1, 2020, in which it was comprehensively restructured.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
