European antitrust regulators are evaluating whether Cyprus Airways illegally received more than €100 million ($130 million) in public support. In the meantime, the European Commission has barred the Cypriot government from providing any further public support to the airline without prior approval while it assesses whether a €31.3 million capital increase and €73 million rescue aid loan fall outside of European law. Earlier this year, the Cypriot State contributed €31.3 million to a capital increase, while “private participation was minimal,” […]

Categories: Aviation, News • Tags: Cyprus Airways, European Commission