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Greek Government Considers Capital Injection For Aegean Airlines

Published on Nov 23 2020 12:58 PM in General Industry tagged: Aegean Airlines

Greek Government Considers Capital Injection For Aegean Airlines

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.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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