| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Press Release |
| Series Details | IP/17/2221 (31.07.17) |
| Publication Date | 31/07/2017 |
| Content Type | News |
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Background and further information: Support from public authorities to the regional airport was justified as there was a need for the operation to continue despite the infrastructure's lack of profit until private initiative could return its viability. The airport was taken over by the Land of Rhineland-Palatinate in 2009 and in March 2017 the region's authority signed an agreement with the HNA Group for the sale of its 82.5% of shares in the airport. The approved measure aims to cover the airport's expected operating losses over the period 2017-2021 up to a maximum amount of €25.3 million. According to the European Commission's 2014 Aviation Guidelines public funding is allowed to cover the operating losses of smaller regional airports until 2024 under certain conditions. One of these conditions is that a credible business plan is presented, which demonstrates the return of the airport to viability at the latest by April 2024. The European Commission decided on 31 July 2017 that public support by the Land of Rhineland-Palatinate to Frankfurt-Hahn airport in Germany was in line with EU state aid rules. |
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| Source Link | Link to Main Source http://europa.eu/rapid/press-release_IP-17-2221_en.htm |
| Subject Categories | Internal Markets, Mobility and Transport |
| Countries / Regions | Europe |
