CYPRUS
Commission approved Cypriot state aid scheme to support tour operators affected by pandemic

The Commission announced on Thursday that it has approved a 2 million euro Cypriot scheme to support tour operators affected by the coronavirus pandemic, as it was found to be in line with the EU’s state aid temporary framework.

The state aid will take the form of direct grants to tour operators active in the Republic of Cyprus that have concluded contracts with air carriers travelling to Cyprus via the airports of Larnaca and Paphos.

The purpose of the scheme is to incentivize incoming tourism, while indirectly benefitting many related businesses such as hotels, restaurants, the food industry, cultural and sports events.

The Commission notes in its announcements that it has found the Cypriot measure to be in line with the conditions set out in the Temporary Framework since the aid:
– will not exceed 2.3 million euro per beneficiary and
– will be granted no later than 30 April 2022.

The measure was assessed as 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 of the Temporary Framework.

The non-confidential version of the decision will be made available under the case number SA.101278 in the State aid register on the Commission`s competition website once any confidentiality issues have been resolved.

Source: Parikiaki.com

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