This allows the state to help its flag carrier through the crisis.
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The EU Commission gives the green light and approves state aid from Lufthansa subsidiary Brussels Airlines. The Belgian government can thus take the ailing carrier under the wings.
And it does that: at the end of July, an agreement was reached on state support of 290 million euros. The remaining 170 million euros of the aid package will flow from the parent company. At the beginning of the week, the package was approved by the German rescue fund for companies – the Economic Stabilization Fund (WSF).
“We are relieved that the state aid has been approved and will now concentrate fully on the timely implementation of our turnaround plan. Thanks to the support and trust we have received from our shareholder Lufthansa, the Belgian government and all of our employees, we can create a strong and competitive Brussels Airlines with long-term prospects. I would like to sincerely thank everyone involved ”, said Dieter Vranckx, CEO of Brussels.
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