Green light given to rescue of Italian airline Volare Airlines SpA

Publication

7 March 2006 à 14h06

Updated on 21 March 2013 à 22h32

Reading time

2 minutes

Publication: 7 March 2006 à 14h06, Updated on 21 March 2013 à 22h32

Reading time: 2 minutes

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The Commission today authorised rescue aid for the Italian airline Volare Airlines SpA. This short-term aid is intended to rescue the firm from bankruptcy and allow it to take steps to continue operating. (Ref. 06219)
Publication

7 March 2006 à 14h06

Updated on 21 March 2013 à 22h32

Reading time

2 minutes

Publication: 7 March 2006 à 14h06, Updated on 21 March 2013 à 22h32

Reading time: 2 minutes

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The Commission has examined the Italian State aid for Volare Airlines SpA and has today concluded that this aid met the five criteria laid down by the Community rules on rescue aid:


  • the aid consists of a guarantee for a liquidity loan of six months’ duration to be granted at an interest rate at least equal to the Commission’s reference rate;

  • the aid is warranted on the grounds of serious social difficulties, since the jobs of 720 persons directly employed by the firm and 200...
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