Supporting air carriers
The European Commission said on Friday it approved Bulgaria's 30.7 million euro ($33.9 million) scheme to support air carriers affected by the coronavirus pandemic.
"The Commission found that the Bulgarian scheme is in line with the conditions set out in the Temporary Framework. In particular, the aid will not exceed 12 million euro per beneficiary under the first type of support and 2.3 million euro per beneficiary under the second type of support," the Commission said in a statement.
The scheme is intended to address the liquidity needs of air carriers and to help them continue operations during and after the pandemic. The scheme consists of two types of support. Under both of them, the support will take the form of direct grants, to be awarded no later than June 30, 2022, the EC said.
The first type provides support for the uncovered fixed costs for air carriers that saw an annual decline in turnover of at least 30% between March 2020 and December 2021. The second type consists in limited amounts of aid for companies that suffered a decline in turnover lower than 30% in 2020, compared to the same period of 2019.
Air carriers of all sizes holding a Bulgarian operating licence will be eligible to receive financing under this scheme.