EU says Greece must apply court decision on Olympic Airlines aid ‘quickly’
5 October 2006The European Commission said Greece must apply ‘quickly’ a ruling made by the EU’s highest court that the government recover aid illegally paid out to flag carrier Olympic Airlines ‘quickly’ or face further court action.
The 161Mâ?¬ of illegal aid given to Olympic since December 2002 comprised 41Mâ?¬ of restructuring aid and another 120 Mâ?¬ of operational aid, including granting the company exemption from payment of various sums the company owed to the Greek state such as VAT on fuel and airport charges.
source: Forbes
