newstodate.aero
Nov 23, 2012 (newstodate): The EU Commission has cast its eyes on the Slovenian national carrier, Adria Airways, opening an investigation of several state aid interventions.
-These measures include four capital injections between 2007 and 2011 amounting to around 85.5 million euro. The Commission has doubts that they were granted on market terms, the Commission writes.
-The Commission will now investigate whether one or more of the identified measures constitute state aid in the meaning of EU rules, i.e. if they have procured an economic advantage to Adria Airways over its competitors in the EU Single Market. In the affirmative, the Commission will investigate whether they can be found compatible with EU state aid rules that allow certain categories of aid, the release reads.
Adria Airways is, however, confident that no irregularities or breaches of competition laws will be found.
-Adria Airways believes that the capital increase between 2007 and 2011 and the sale of shares of the subsidiary Adria Airways Tehnika d.d. do not represent state aid as all the investments met the criteria of the Market Economy Investor Principle, the carrier says.
-Throughout the entire investigation procedure, which the company estimates will take more than a year, Adria Airways will provide unlimited aid and support to those involved in order to prove the legitimacy of the measures being investigated.
-These measures include four capital injections between 2007 and 2011 amounting to around 85.5 million euro. The Commission has doubts that they were granted on market terms, the Commission writes.
-The Commission will now investigate whether one or more of the identified measures constitute state aid in the meaning of EU rules, i.e. if they have procured an economic advantage to Adria Airways over its competitors in the EU Single Market. In the affirmative, the Commission will investigate whether they can be found compatible with EU state aid rules that allow certain categories of aid, the release reads.
Adria Airways is, however, confident that no irregularities or breaches of competition laws will be found.
-Adria Airways believes that the capital increase between 2007 and 2011 and the sale of shares of the subsidiary Adria Airways Tehnika d.d. do not represent state aid as all the investments met the criteria of the Market Economy Investor Principle, the carrier says.
-Throughout the entire investigation procedure, which the company estimates will take more than a year, Adria Airways will provide unlimited aid and support to those involved in order to prove the legitimacy of the measures being investigated.