European Commission approves €4.4 million Bulgarian support measure to Bourgas and Varna airports

The European Commission has approved 4.4 million euro Bulgarian support measure to Bourgas and Varna airports in the context of the coronavirus outbreak, BGNES said based on publication in "еureporter.co” website..

The public support will take the form of a deferral of the payments of the concession fees due by Fraport Twin Star Airport Management AD, 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.

The Commission found the measure to be in line with the conditions set out in the Temporary Framework.

In particular, the payment deferral may only be granted until the end of this year and its duration will be for one year. The payment deferral involves minimum remuneration in line with the Temporary Framework.

The Commission therefore concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework.

On this basis, the Commission approved the measure under EU State aid rules, the statement reads.