Rescue aid for Cyprus Airways
European Commission - IP/05/521 03/05/2005
Brussels, 3 May 2005
The Commission decided today to authorise rescue aid for Cyprus Airways, the Cypriot flag carrier. The aid consists of a CY£ 30 million (€ 51 million) loan guarantee for the next six months so as to allow the authorities to organise the restructuring of the airline.
The Commission has examined the rescue aid for Cyprus Airways and checked that it complies with Community rules, notably: