European Commission: Recapitalisation of Air Austral did not constitute state aid

European Commission found (15-Mar-2016) the EUR63.5 million recapitalisation of Air Austral by the Sematra, the carriers' main shareholder controlled by the local councils of Réunion, does not constitute state aid. The recapitalisation was made during the carrier's bankruptcy proceedings. The investigation was launched in Aug-2013. [more - original PR]