Restructuring aid for Corsair: Commission invites parties to comments on modifications
On 5 February 2024, the European Commission launched a formal investigation procedure into additional restructuring aid that France planned to grant to Corsair SAS. This aid aimed to modify and extend a previously approved restructuring plan from 2020, which had already involved €106.7 million in state support.
The investigation revealed to the Commission that Corsair received an extra EUR 32.4 million in aid between April 2021 and April 2022 through three separate schemes. It also appeared to breach commitments from the original plan, particularly relating to the size of its fleet. These issues raise concerns under the EU’s “one time, last time” rule, which forbids granting restructuring aid to the same company more than once, and could also represent non-compliance with the conditions set out in the original approval decision.
In light of these findings, the Commission has expanded the scope of its investigation, as the new information may affect the aid’s legality under EU state aid rules. With the notice published today, the Commission invites third parties to comment on the modification of the aid and the restructuring plan for Corsair.
If deemed incompatible, the aid could be recovered.
For more information, see State aid case SA.109662 at DG Competition’s register and the Official Publication.