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!
- » EC Disburses €14 Billion to Nine Member States, Greece Receives 2.7 Billion, Bulgaria Not on the List
- » Sofia Summit: European Perspective on the Western Balkans Means Stability, Peace and Prosperity
- » EC Sent Letter to Bulgaria About the Citizenship by Investment Scheme
- » MEPs Adopted a Critical Resolution on Bulgaria's Rule-of-Law
- » EP to Vote Resolution on Bulgaria on Thursday
- » Reuters: Split EU Lawmakers Rap Bulgaria on Rule-of-Law Failings