Classic Kites

Main Menu

  • Home
  • Kites
  • German Loans
  • German Economy
  • Flying Kites
  • Finance Debt

Classic Kites

Header Banner

Classic Kites

  • Home
  • Kites
  • German Loans
  • German Economy
  • Flying Kites
  • Finance Debt
German Economy
Home›German Economy›EU court cancels state aid to Condor but suspends repayment

EU court cancels state aid to Condor but suspends repayment

By Bethany Blackford
June 9, 2021
0
0



An EU court on Wednesday overturned the EU’s approval of Germany’s state aid to charter airline Condor, but suspended enforcement of its ruling to give the European Commission time to make a new decision on the case.

Condor has received aid worth 550 million euros ($ 600 million) from the German government and the regional state of Hesse to keep it afloat during the coronavirus crisis.

The airline was already in insolvency proceedings which had to be extended because an interested buyer retracted its offer.

The committee, however, approved German aid to the airline, taking into account the damage suffered by Condor due to travel restrictions due to the pandemic and the costs incurred by the extension of the insolvency proceedings.

Following the lawsuit brought by Ryanair, the General Court of the European Union said that it could not establish that the travel restrictions had led to the failure of the sale of Condor.

However, due to the “adverse consequences for the German economy” if the aid was immediately canceled, the court said it was suspending the execution of its decision “pending the adoption of a new decision by the Commission “.

hmn / dlc / spm



Related posts:

  1. Coronavirus pandemic triggers delivery container disaster | Firm | German financial and monetary information | DW
  2. EUR / SEK: international restoration hopes to assist crown – CIBC
  3. Eurozone retail gross sales and COVID-19 information at a look
  4. A bit of Polish financial miracle? – EURACTIV.com
Tagseuropean unionmillion euros

Recent Posts

  • Matt Doherty Reveals Painful Way Players Relax After Storytelling Session – Thick Accent
  • Ukraine estimates significantly higher number of Russian casualties in Crimea explosions
  • Biker killed in freak accident after being slit by glass-covered kite string
  • Macro Headwinds Slow Global Leveraged Loan Market in H1 | White & Case srl
  • Gen Con 2022: Polygon’s best board games are also the most chaotic

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • July 2020
  • November 2019
  • October 2019
  • September 2019
  • July 2019

Categories

  • Finance Debt
  • Flying Kites
  • German Economy
  • German Loans
  • Kites
  • Terms and Conditions
  • Privacy Policy