Fee approves €6.13 million Cypriot incentive scheme for airways affected by pandemic

The European Fee has authorised a €6.13 million Cypriot incentive scheme geared to help airways affected by the coronavirus pandemic, having discovered it to be according to the State support Momentary Framework of the EU.

The scheme is a re-introduction of an support measure initially authorised by the Fee on 1 July 2020 (SA.57691), which expired on 31 December 2021, based on a press launch by the Fee.

The scheme, which can take the type of direct grants, shall be open to all airways working routes to and from Cyprus.

In line with the press launch, “the extent of remuneration will rely on the plane’s load issue (that’s, the variety of passengers on board divided by the capability of the plane in passenger numbers), ranging from a load issue of 41% and as much as a 70%, and it is going to be paid per every transported passenger.”

“The intention of the scheme is to help airways in a complete and non-discriminatory method with the intention to re-establish air routes from and to Cyprus, and thus allow the restoration of air connectivity and tourism,” the press launch notes.

The scheme has been discovered to be according to the circumstances set out within the Momentary Framework, because the support is not going to exceed €2.3 million per beneficiary and shall be granted no later than 30 June 2022.

The Fee subsequently concluded that the measure is “obligatory, acceptable and proportionate to treatment a critical disturbance within the economic system of a Member State, according to Article 107(3)(b) TFEU and the circumstances set out within the Momentary Framework.”

(CNA)