A PYMNTS Company

EU OKs Sweden, Belgium Plan To Support Airlines, Airports

By  |  April 12, 2020

The European Commission approved measures from Belgium and Sweden to help the airline industry as it struggles to weather the economic fallout from the coronavirus.

It gave antitrust clearance to Sweden’s €455 million (US$497 million) loan-guarantee scheme to support airlines that hold the nation’s commercial aviation license at least as of January 1. It also welcomed a Belgian plan to defer payment of concession fees by airports in the Walloon region.

“The coronavirus outbreak is having an unprecedented impact on the aviation sector in Europe and worldwide,” Margrethe Vestager, the EU’s antitrust chief, said in a statement. The loan guarantee “aims at providing airlines operating in Sweden with liquidity in these difficult times.”

Earlier, the EU approved a €50 billion Belgian loan-support plan for companies.

Full Content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.