| Series Title | European Voice |
|---|---|
| Series Details | 05/10/95, Volume 1, Number 03 |
| Publication Date | 05/10/1995 |
| Content Type | News |
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Date: 05/10/1995 THE Spanish government expects a settlement with the European Commission by the end of this month on how much state aid can be injected into the country's loss-making national airline Iberia. After a meeting with Transport Commissioner Neil Kinnock yesterday (4 October), Spanish Industry Minister Juan Manuel Eguiagaray admitted the planned subsidy of 800 million ecu would be reduced by the Commission. Iberia received a subsidy in 1992 on condition that it would not seek any further state aid, but the devaluation of the peseta, air liberalisation and the recession hit the company's profits and they came back for more. Meanwhile, Volkswagen's troubled Spanish subsidiary SEAT agreed yesterday to cut capacity by 30&percent; in return for a 280-million-ecu rescue package from the Spanish government. |
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| Subject Categories | Business and Industry, Internal Markets, Mobility and Transport |
| Countries / Regions | Spain |
