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Chimimport AD [6C4] |
EC approves EUR 4.4m Bulgarian support measure to Burgas and Varna airports (NEUTRAL) |
The European Commission has approved a EUR 4.4m Bulgarian support measure to Burgas and Varna airports in the context of the coronavirus outbreak, according to a publication at www.eureporter.co. The measure was approved under the state aid Temporary Framework. The public support will take the form of a deferral of the payments of the concession fees due by Fraport Twin Star Airport Management, the company managing the two airports, to the Bulgarian government which owns the airports’ infrastructures. The purpose of the measure is to help the two airports addressing the liquidity shortages that they are facing due to the coronavirus outbreak, by reducing the costs borne by the airport operator. In particular, the payment deferral may only be granted until the end of this year and its duration will be for one year. Fraport Twin Star Airport Management, a 60/40 joint venture of Fraport and Airport Services (a subsidiary of Chimimport), has a 35-year concession to manage the coastal airports, expiring in 2041. Source: eureporter.co; FFBH |
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