Restructuring aid to Corsair approved
The Commission has approved French restructuring aid totalling EUR 167.8 million in favour of airline Corsair. The aid consists of an EUR 80 million write-off of loans approved in December 2020 and EUR 87.8 million in additional financing. The decision follows an in-depth investigation opened in February 2024 after France notified amendments to Corsair’s original restructuring plan, which had been affected by unforeseen external events and no longer realistic economic assumptions.
The Commission approved the revised structuring plan under the EU Guidelines on State aid for rescue and restructuring concluding it ensures Corsair’s return to long-term viability by the end of the restructuring period. The Commission found that Corsair made sufficient own contributions, that the aid is proportionate, and that adequate compensatory measures are in place to limit distortions of competition, including reductions in flight rotations and slot releases.
For more information, see the Commission’s PR.