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Politics

Aegean Airlines Says Greek State Support Package of Airline Sector Positive

ATHENS – Aegean Airlines called the aid to support airlines facing repercussions on the industry from the Covid-19 pandemic "positive but small" on Thursday.

"Measures announced today to support the airline sector are positive, but the figures are small compared with other EU countries," Aegean said in a statement. The Greek airline company said that these measures cover the whole airline sector, airport companies, ground handling and airlines of any size horizontally, without any advantages over anyone.

At the same time, by resorting to the State Guarantee Fund, Aegean will apply for borrowing at all four systemic banks for a sum of 150 million euros, or 11 pct of its turnover. The airline company said that the basic measure is the support of workers to December 31, 2020, offering a 60 pct coverage to income losses in case of reduced employment. Similar programs already apply in the EU, particularly in northern Europe, with significantly higher support on labor cost for employers.

The measures must continue and evolve, and it is necessary to expand them until the start of the tourism season in 2021, the airline said.

It stressed that it will fight with its own powers, its own reserves and its own people. "The goal is to bring passengers back to use by adhering to the new hygiene protocols. And as always, we will lead this effort with all our powers and with pride," it noted.

Earlier in the day, the ministries of Finance, Labor and Infrastructure & Transport unveiled a package of horizontal interventions, worth 115 million euros, to support the airline sector.

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