newstodate.aero
Sep 20, 2012 (newstodate): The EU Commission has now approved Czech state aid to secure the survival of CSA Czech Airlines.
The Czech state has provided CSA with a 100 mio euro loan, and the EU acknowledges that this is acceptable to address the airline's financial problems during its restructuring.
The decision rounds off a process launched in 2010 as the EU Commission launched a probe into saying that it could not exclude that the loan and its subsequent de-collateralisation might be used by the airline to finance costs linked to the operation of the company
The Czech state has provided CSA with a 100 mio euro loan, and the EU acknowledges that this is acceptable to address the airline's financial problems during its restructuring.
The decision rounds off a process launched in 2010 as the EU Commission launched a probe into saying that it could not exclude that the loan and its subsequent de-collateralisation might be used by the airline to finance costs linked to the operation of the company