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Parliamentary questions
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26 November 2020
Priority question for written answer  P-006474/2020
to the Commission
Rule 138
Ioannis Lagos (NI)
 Answer in writing 
 Subject: EUR 120 million in State aid for AEGEAN and the Greek State does not become a majority shareholder

The Greek Government is providing EUR 120 million in financial aid to Aegean Airlines, the country’s main carrier, to help it counter the effects of the pandemic. At the same time, instead of automatically acquiring ownership of the airline’s shares, the Greek State will receive warrants for the purchase of shares in the company, which it will be entitled to exercise under certain conditions and within a certain time frame, as opposed to what happened with certain foreign airlines, such as Lufthansa, which was shored up by a divestiture of the shares to the German State.

In view of this:

1. Does the Commission intend to approve State aid to Aegean when, according to the preliminary draft budget, health expenditure is being cut by EUR 572 million, total social expenditure is being reduced, GDP is down by more than 10%, unemployment is rising and wages are falling, while the company has posted a net profit of EUR 522.9 million over the last five years and distributed EUR 210.7 million to its shareholders?

2. Is this decision of the Greek Government compatible with the European Framework for State aid to businesses and sectors affected by the pandemic?

Original language of question: EL
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