EU INVESTIGATES CZECH AIRLINES RESCUE PLAN

Dino D'Amore
By Dino D'Amore February 24, 2011 11:27

EU INVESTIGATES CZECH AIRLINES RESCUE PLAN

The European Commission has opened a formal investigation under EU state aid rules into the restructuring plans of Czech Airlines. The investigation will examine whether the proposed reduction in activities will be sufficient to offset the effect of the aid received. The whole thing revolves around a loan of CZK2.5 billion ($138.9 million) granted by state-owned Osinek under allegedly preferential conditions that was subsequently de-collateralized and transformed into equity. If this is put down by the EU then what about EADS who did more or less the very same thing three years ago?

Dino D'Amore
By Dino D'Amore February 24, 2011 11:27
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