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EU: Commission to phase out airport aid over next 10 years

 |  July 3, 2013

The European Commission announced plans to curb state aid offered to airports that operate at a certain capacity, all in the name of competition. Reports said Commissioner Joaquin Almunia issued draft guidelines, published on Wednesday that decline investment aid to airports with more than 5 million passengers per year; the proposal aims to ease taxpayers’ burden and jumpstart competition within the sector, said Almunia. In an email statement, Almunia said the Commission is looking to ensure healthy competition in the airport market “regardless of the business model” each body. According to reports, the aid will be phased out over a maximum of the next 10 years.

Full Content: Bloomberg

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