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State aid: Commission approves €462 million Portuguese support to compensate TAP for damage suffered due to coronavirus outbreak


This article is brought to you in association with the European Commission.
The European Commission has found a €462 million Portuguese support measure in favour of Transportes Aéreos Portugueses, S.A. (“
TAP”) to be in line with EU State aid rules. The measure aims at compensating the airline for the damage suffered due to the coronavirus outbreak between 19 March and 30 June 2020.
Executive Vice-President Margrethe
Vestager in charge of competition policy, said: “
This measure will enable Portugal to compensate TAP for the damage it suffered as a direct result of the travel restrictions that Portugal and other destination countries had to implement to limit the spread of the coronavirus. Separately, our assessment of the restructuring plan for the company submitted by Portugal is ongoing. We continue being in close and constructive contacts with the Portuguese authorities in this context.”    ....

Margrethe Vestager , European Union , European Commission , Lisbon International Airport , Vice President Margrethe Vestager , Portuguese State , Lisbon International , Member States , General Block Exemption Regulation , Temporary Framework , Official Journal , Competition Weekly , ஐரோப்பிய தொழிற்சங்கம் , ஐரோப்பிய தரகு , லிஸ்பன் சர்வதேச விமான , போர்சுகீஸ் நிலை , லிஸ்பன் சர்வதேச , உறுப்பினர் மாநிலங்களில் , ஜநரல் தொகுதி விலக்கு ஒழுங்குமுறை , தற்காலிகமானது கட்டமைப்பு , அதிகாரி இதழ் , போட்டி வாராந்திர ,