Press Release: State aid: Commission opens in-depth inquiry into a €31.3m capital increase and a rescue aid package for Cyprus Airways

The European Commission opened an in-depth investigation into a number of public support measures in favour of Cyprus Airways in March 2013.

At this stage, the Commission had doubts whether these measures are in line with EU state aid rules. The opening of an in-depth investigation gives interested third parties an opportunity to comment on the measures under assessment. This did not prejudge the outcome of the investigation. However, the Commission emphasises that no further state aid measures in favour of Cyprus Airways should be implemented without the Commission's prior approval.

• Primary Source

Kathimerini, 10.04.13: Near-bankrupt Cyprus airways to keep flying – for now http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_10/04/2013_492986

---