site.btaEuropean Commission Approves EUR 5.8 M Measure to Support Burgas, Varna Airports
The European Commission has approved a Bulgarian measure worth EUR 5.8 million to support Burgas and Varna airports in the context of Russia's war against Ukraine. The measure was approved under the state aid Temporary Crisis Framework adopted by the Commission on 23 March 2022 and amended on 20 July 2022 and 28 October 2022, the European Commission said on Thursday.
Under the measure, the aid will take the form of a deferral of concession fees payable by Fraport Twin Star Airport Management Plc, the company operating the two airports, to the Bulgarian government which owns the airport infrastructure. The purpose of the measure is to help the two airports to cope with the liquidity shortfall associated with the reduction in activity following the closure of Ukrainian airspace and of European airspace to Russian aircraft, by reducing the costs borne by the airport operator.
The Commission found that the Bulgarian measure meets the conditions set out in the Temporary Crisis Framework. The Commission has therefore concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state. On this basis, the Commission approved the Bulgarian measure under EU state aid rules.