Greek state to support Aegean airlines with €120 million

The Greek state will have warrant rights

The government spokesman, Stelios Petsas said the Greek state would support the Aegean airline with funds of 120 million euros, with the participation of the company’s shareholders, during his regular press briefing on Monday.

According to the government spokesman, the total amount of state support is expected to reach 120 million euros and private participation is projected at half of the state aid, ie 60 million euros, respectively 120 million euros of the state, which will come from Aegean shareholders.

Stelios Petsas noted that this amount is much lower, compared to the support of more than 32 billion euros that other companies are in line to or have already received in the aviation sector.

At the same time, the Greek State will receive special options (type warrants), for the purchase of shares of the company, which it will be entitled to exercise under specific conditions and for a certain period of time.