7-Mar-2013 12:57 PM

European Commission opens investigation into Cyprus Airways restructuring

European Commission opened (06-Mar-2013) an investigation into Cyprus Airways’ EUR31.3 million capital increase and rescue aid package as part of the airline’s restructuring. The Commission stated it has doubts whether these measures are in line with the EU’s state aid rules. The Commission stated no further state aid measures for Cyprus Airways should be implemented without the Commission’s prior approval. [more - original PR]