Press Release: Commission finds that Greece has granted illegal State aid to Olympic Airways and Olympic Airlines

The European Commission on 14 September 2005 declared illegal a number of measures taken by the Greek State which gave an unfair advantage to Olympic Airways and Olympic Airlines, the new company which took over its flight operations. This decision closed the investigation, started on 16 March 2004, into the State aid granted since December 2002, when the airline had been ordered to repay €160 million in illegal aid.

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