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Brussels backs €30.7mn Covid aid to Bulgarian carriers

The European Commission has approved EUR30.7 million euros (USD33.7 million) in direct Bulgarian government grants as support for the country’s airlines covering the first two years of the coronavirus pandemic, the European Union’s executive branch said in a statement on Friday, March 18.

The aid scheme consists of two types of support, the first providing assistance “for the uncovered fixed costs for air carriers that suffered a decline in turnover between March 2020 and December 2021 of at least 30% compared to the same period of 2019.” The second consists of more limited amounts of aid for companies that suffered a decline in turnover lower than 30%.

The scheme, which the commission said was in line with the temporary Covid-era relaxation in state aid rules, will be open to airlines of all sizes holding a Bulgarian operating licence. The purpose, it added, is to address the liquidity needs of these companies and to help them continue their activities during and after the pandemic.

The aid will not exceed EUR12 million (USD13.2 million) per beneficiary under the first...

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