The Greek state is considering providing capital support of approximately €120 million to the country's biggest carrier, Aegean Airlines, a government spokesman said on Monday November 23.
Warrants In Exchange For Shares
Under the plan, the government would receive warrants in exchange for shares in the privately owned Aegean Airlines, which has been hard hit by the pandemic, government spokesman Stelios Petsas said.
HI Consolidated Revenue Drop
Aegean has had to ground planes as part of restrictions to contain the spread of COVID-19 and experienced a 64% decrease in consolidated revenue during the first half of 2020.