EC Approves €4.4 Million Bulgarian Support Measure to Burgas and Varna Airports

Politics » BULGARIA IN EU | August 18, 2020, Tuesday // 13:14| Views: | Comments: 0
Bulgaria: EC Approves €4.4 Million Bulgarian Support Measure to Burgas and Varna Airports

The European Commission has approved a €4.4 million Bulgarian support measure to Burgas and Varna airports in the context of the coronavirus outbreak. The measure was approved under the state aid Temporary Framework. The public support will take the form of a deferral of the payments of the concession fees due by Fraport Twin Star Airport Management AD, the company managing the two airports, to the Bulgarian government which owns the airports’ infrastructures.

The purpose of the measure is to help the two airports addressing the liquidity shortages that they are facing due to the coronavirus outbreak, by reducing the costs borne by the airport operator. The Commission found the measure to be in line with the conditions set out in the Temporary Framework.

In particular, the payment deferral may only be granted until the end of this year and its duration will be for one year. Furthermore, the payment deferral involves minimum remuneration in line with the Temporary Framework.

The Commission therefore concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework. On this basis, the Commission approved the measure under EU state aid rules. More information on the Temporary Framework and other actions taken by the Commission to address the economic impact of the coronavirus pandemic can be found here.

The non-confidential version of the decision will be made available under the case number SA.58095 in the state aid register on the Commission’s competition website once any confidentiality issues have been resolved./Eureporter.co

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Bulgaria in EU » Be a reporter: Write and send your article
Tags: airport, Varna, Burgas, European Commission, aid, aid
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria