Corsair may receive state aid

The French airline Corsair has been authorised by the European Commission to receive state aid. An aid package of over €135 million has been approved. The aid package is intended for a reorganisation due to the current COVID-19 crisis. The airline has recently changed ownership and will have to reorganise significantly in order to stay in business.

Compensation part

Of the more than EUR 135 million, EUR 30 million is intended to compensate for France’s severe public measures during the crisis. Corsair has suffered a great deal as a result. The remaining EUR 105 million will be spent on the reorganisation. Corsair mainly flies to French overseas territories such as the Antilles, Mauritius and Réunion. It is important that these connections are maintained. Corsair’s new shareholders are also investing heavily in the airline. These new shareholders have recently taken over shares from TUI and Intro Aviation.

(c) Photo: Airbus – Corsair A330