EU approves 1.3 billion euro restructuring state aid for airline SAS

Sas AB

28/06/2024 15:20

BRUSSELS, June 28 (Reuters) - The European Commission
has approved, under EU state aid rules, a 1.3 billion euro ($1.4
billion) restructuring state aid programme for Swedish airline
SAS  SAS.ST , it said on Friday.
    In 2020, Denmark and Sweden took part in COVID-19 pandemic
state aid measures to help SAS, which was hit as global travel
was shut down due to the pandemic.
    "To limit any possible distortions triggered by the public
support, SAS will reduce its presence on the overall air
transport activities," said Margrethe Vestager, the EU's
Executive Vice-President in charge of competition policy.
    This could be through, "among others, a reduced fleet,
limited ground handling and maintenance business as well as the
release of several slots", she said. 
    ($1 = 0.9349 euros)

 (Reporting by Sudip Kar-Gupta; Editing by Jan Harvey)
 ((sudip.kargupta@thomsonreuters.com;))