commiss decis august aid grant greec olymp airwai notifi document number greek text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof regard agreement european econom area point articl thereof parti concern notic accord provis abovement articl submit comment regard comment fact octob commiss adopt decis ec aid grant greec olymp airwai hereinaft quot initi decison quot aid grant grant greec olymp airwai quot oa quot compat common market agreement european econom area quot eea agreement quot virtu articl treati articl eea agreement aid compris loan guarante extend compani pursuant articl greek law june loan guarante total usd million loan contract decemb purchas aircraft eas undertak debt burden grd billion convers grd billion undertak debt equiti capit inject grd billion instal grd billion measur form part restructur recapitalis plan oa initi submit commiss basi commiss consid aid facilit develop air transport activ fragment peripher region commun develop part compat aid condit complianc greec commit commit includ accept commiss main result plan applic condit verifi independ consult chosen commiss conjunct greek govern articl decis submiss greek govern commiss year week payment instal capit increas schedul januari januari report implement restructur plan compani commiss submit scrutini independ consult articl decis ii pursuant abovementiond provis greec submit report implement plan commiss decemb prior payment instal capit increas grd billion schedul januari commiss independ consult verifi report complianc condit basi verif report complianc condit take account posit express greec letter april commiss adopt april decis decid open procedur provid articl treati regard aid authoris initi decis regard notif aid discov open procudur regard aid initi authoris motiv breach commit set articl initi decis commiss identifi shortcom regard commit commit refrain interf manag oa futur strict limit role sharehold articl initi decis commiss detect case continu undu interfer greek govern manag compani govern appear appoint directli board member subsidiari oa legal task incumb repres oa board hereinaft issu ii member oa board design state sole sharehold tendenc interfer constantli unexpect wai dai dai manag compani area staff appoint commiss consid notabl evidenc frequent meet board frequent member hereinaft issu iii statu oa result law pass order implement restructur plan compani compar privat undertak staff manag articl law express except exempt oa subsidiari applic legisl public undertak remain subject articl law commiss consid provis set cumbersom administr recruit procedur unsuit personnel manag compani oa except testifi persist state control kei element manag compani hereinaft issu addit articl law work regul oa employe quot approv presidenti decre propos minist transport commun notwithstand provis articl law quot uncertainti procedur appli januari articl law explicitli agreement conclud decemb oa repres cabin crew work condit futur agreement matter likewis approv presidenti decre propos ministri transport commun articl law constitut ordinari law applic undertak greec work regul staff undertak jointli approv social partner interfer state commun ministri labour hereinaft issu final uncertainti exact scope abovement articl law greek law adopt law decemb appear provid specif regim oa staff cast doubt oa enjoi autonomi vi vi greek govern legal point view public limit compani hereinaft issu iv law iteself constitut interfer busi determin voluntari retir condit oa personnel work condit compani effect notif initi decis greek author oa govern ordinari greek law supplement intern compani agreement labour law social secur complianc decis clear case voluntari departur payment applic articl law exce payment due hand hand sum month salari hereinaft issu oa complet freedom defin organis network olymp aviat domest subsidiari oblig oper small unprofit rout greek mainland greek island public servic oblig impos accord council regul eec juli access commun air carrier intra commun air rout hereinaft issu vi oa transport greek press extrem low fare compar cost incur activ govern formal impos oblig oa cost estim grd billion annum commiss consid abnorm situat perpetu autonom manag hereinaft issu vii govern greek civil aviat author refrain pai ticket issu oa behalf offici agent polit staff debt question amount billion greek drachma commiss consid payment debt point continu relationship depend greek state nation airlin hereinaft issu commit give oa fiscal statu public limit compani compar greek compani ordinari law exempt tax affect recapitalis oper provid articl initi decis articl initi decis articl law quot profit financi year oa olymp aviat sa exempt form public tax levi extent result essenti reorganis structur balanc sheet conform approv recoveri plan condit profit made capit restructur reorganis compani quot provis exempt authoris articl initi decis convers equiti grd billion compani debt captial inject total grd billion direct impact taxat enterpris exempt question appli sole tax except profit result cancel oa debt total grd billion commiss consid gener scope exempt provid articl law mean oa regard fiscal statu public limit compani compar greek undertak ordinari law year hereinaft issu ii appli exempt provid articl law state quot oa exempt commiss tax levi paid state parti reliev addit charg quot result grant loan guarante greec instal capit inject issu exempt authoris articl initi decis appli sole tax charg affect compani concern exclus recapitalis oper grant state guarante hereinaft issu commit bring agreement greek state oa line provis packag liberalis measur decemb articl decis presidenti decre termin preferenti right oa oper domest mainland servic greec decemb forc commiss consid continu forc nation legisl conflict regul eec constitut failur greec compli abovement commit hereinaft issu ii appear greek state termin oa exclus oper domest schedul flight continent greec oper januari oper date season natur commiss consid amount failur compli abovement commit commit provid articl initi decis state greek govern maintain conform articl regul eec exclus concess benefit oa domest schedul flight continent greec oper januari oper continu oa date hereinaft issu commit grant aid oa form whatsoev conform commun law articl initi decis articl law quot purchas cost militari servic year previou servic provid paragraph payment provid paragraph subparagraph paragraph articl born state budget amount grd billion quot commiss consid amount constitut aid state assum direct respons cost born oa aid affect trade member state distort competit view intern dimens air transport fact benefit reserv oa constitut state aid mean articl treati articl agreement hereinaft issu ii oa exempt form public tax public levi year exempt tax expens respect loan guarante commiss consid measur specif oa constitut sate aid explain previous provid articl initi decis hereinaft issu iii final oa paid land park fee greek airport initi decis notifi greec compani formal exempt unpaid fee shown debt compani liabil exempt fee oa deriv articl greek decre dii septemb formal repeal hereinaft issu commit accept principl airlin oa authoris oper rout greec countri belong eea make design multipl design sole basi merit request articl initi decis presidenti decre termin oa exclus oper schedul intern flight passeng freight mail greek flag greec countri belong eea enter forc decre abolish oa preferenti domest greek rout mention point commiss consid delai notif initi decis constitut breach commit hereinaft issu light commiss consid oa make satisfactori recoveri conform plan initi decis base greek govern failur compli commit adher condit authoris aid cast doubt continu compat aid articl treati articl eea agreement circumst disturb balanc struck initi decis authoris aid compromis context commiss consid examin aid order adopt decis octob open procedur prompt doubt compat articl treati articl eea agreement notifi aid discov greek state assum respons sum grd billion tax exempt period loan guarante exempt fiscal expens affect capit inject exempt land park fee letter commiss notifi greec decis open procedur provid articl treati gave formal notic submit comment letter commiss remind greec accord articl treati aid measur put effect abovement procedur result final decis basi remain capit inject grd billion grd billion carri remain state guarante usd million grant letter publish offici journal european commun member state interest parti request submit comment iii letter juli greec submit comment repli commiss letter inform decis open procedur greec assert notwithstand open procedur regard aid initi authoris greec entitl carri capit inject plan articl initi decis greec commit carri capit inject object restructur plan attain mention failur compli commit greec made detail comment issu involv adher commit open procedur unit kingdom danish govern interest parti includ british airwai lufthansa sa olymp airwai iaca intern air carrier associ ac european commun air carrier associ adl german charter carrier associ submit comment case except comment submit oa comment receiv approv commiss decis open procedur provid articl treati rais number question relat doubt express decis observ state comment point treati rule state aid strictli appli context increas competit common air transport market entri forc packag liberalis measur januari basi complianc commit condit compat aid common market effect ensur procedur open commit adher member state occur compromis reach commiss decis octob breach commit give aid import condit unit kingdom govern ad greec effect honour commit aid origin authoris recov danish govern part insist fact aid measur exempt meet requir market economi investor principl case except circumst unforese extern oa possibl justifi aid measur point degre observ interest parti make addit point failur greec compli commit except oa interest parti denounc monopoli olymp airwai parti handl servic greek airport result poor qualiti servic high price addit claim oa servic flight compar servic competitor discrimin sa request liberalis ground handl servic greec order restor balanc initi commiss decis interest parti contrari confirm greec initi decis handl practic fulli liberalis greec lufthansa respons januari greek civil aviat author applic handl licenc athen hellenikon airport british airwai mention continu difficulti effect handl flight lufthansa aid receiv oa distort competit rout germani greec oa decreas fare rout ac call discontinu exempt greek island applic packag order safeguard balanc initi commiss decis adl charter flight oper commun air carrier member state greek island remain subject import constraint virtu greek regul march carrier sell ticket transport freight agricultur product press public adl stress restrict appli oa request applic packag greek island oa made comment similar submit greec comment commun greec letter juli iv comment interest parti rais addit issu impair balanc initi decis restict laid greek regul march regard oper schedul air servic greek island incompat commit greec compli definit schedul air servic infer provis regul eec impos schedul servic constraint prohibit quot seat quot provis return journei prohibit transport cargo mail requir minimum sojourn time articl initi commiss decis commiss concern fact restrict appli oa benefit preferenti regim involv discrimin hereinaft issu articl initi decis includ specif commit part greec handl greek airport initi decis state quot commiss take note greek author assur aspect handl authoris airport quot altern poor qualiti servic offer oa framework monopoli parti handl servic assur account commiss assess compat aid practic difficulti imposs commun air carrier handl flight greek airport led commiss practic handl fulli authoris greek airport evidenc inform transmit commiss associ greek airlin june repli greek civil aviat author applic handl lodg decemb venu airlin ko cronu airlin thessalonica kal heraklion rhode hereinaft issu letter juli august commiss drew attent greec issu request inform thereon addit closer examin statu oa greek law specialis lawyer commiss identifi addit breach commit greec grant aid oa form whatsoev articl initi commiss decis articl law redund indemn oa employe accept earli retir accord condit set provis subject ordinari incom taxat preferenti incom taxat preferenti regim constitut incent employe leav compani oa secur redund object set restructur plan basi constitut aid state de facto assum direct respons cost born oa order reach object aid affect trade member state distort competit view intern dimens air transport fact benefit reserv oa constitut state aid mean articl treati articl eea agreement hereinaft issu final studi statu oa reveal unpaid debt greek state oa consist unpaid servic greek civil aviat author servic state entiti inlcud ministri govern agenc public undertak state debt greek polit parti accumul substanti debt oa issu commiss greec decemb letter request inform issu breach commit identifi commiss decis april open procedur abovement issu continu contact exchang inform place commiss greec june commiss repres greek govern time elaps decis open procedur month fact restructur plan initi decis base end commiss need confirm object plan achiev oa compani return viabil secur greec report matter submit commiss august greec submit commiss report financi perform oa period includ financi project conform articl initi decis commiss appoint conjunct greec independ consult deloitt amp touch assess implement plan progress made consult report submit novemb report base oa audit account provision account emerg report oa continu make effort maintain return viabil met object restructur plan net profit continu increas increas slower rate plan grd billion project grd billion plan provid increas grd billion grd billion oa neg affect higher expect exchang rate dollar effect situat larg counterbalanc higher expect growth market oa activ origin forecast account adjust detail analysi reveal air transport busi oa make loss contribut ground handl activ continu gener import revenu monopoli held oa grd billion project billion compani make loss restructur measur provid plan fulli implement produc expect result case personnel reduct chang work regul reorganis structur compani set reliabl comprehens manag inform system lesser extent reorganis network result oa fail meet oper object plan personnel cost remain high concern increas project personnel cost increas substanti reduct number employe personnel product area concern remain substanti commun carrier belong associ european air carrier aea oa remain viabl time clear context immin liberalis ground handl activ commun effect council direct ec octob access ground handl market commun airport long term viabil achiev compani secur profit air transport busi case oa lack real competit structur term adequ cost labour cost revenu concern abil face import invest involv fleet renew move athen airport spata issu constitut import medium term challeng viabil oa final compani account constraint involv fact imstal capit inject initi schedul payment januari januari sate guarante worth grd billion remain block time result open procedur basi clear oa need hand fulli implement restructur measur action updat plan provid addit restructur measur addit measur account present financi posit oa financi consequ abovement challeng constraint face compani novemb commiss present result find manag oa manag oa broadli accept find restructur plan process updat basi report prepar firm financi consult appoint oa mckinsei decemb greek govern decid replac manag team oa manag team effect offic januari start design revis restructur plan revis plan base work regul agre compani union repres employe expect greec submit revis plan commiss april neg reaction union reject propos work regul oa unabl finalis revis restructur plan envisag end march compani underw sever intern crisi caus substanti disrupt oper time appear compani face liquid problem make advanc payment aircraft order renew fleet arrang financ state guarante intern crisi final halt greek govern accord greek law decid impos work regul propos oa law adopt greek parliament april contact commiss greec oa exchang inform issu involv case includ revis restructur plan continu februari contact includ meet athen brussel februari march april june letter juli greec submit commiss revis restructur programm oa addit inform complianc commit addit issu identifi commiss letter decemb vi basi inform transmit greec open procedur notabl letter juli hand occas meet situat commit addit issu identifi commiss revis restructur plan commit addit issu identifi commiss commit set articl initi decis commit refrain interf manag oa strict limit role greek govern sharehold articl initi decis regard appoint board member oa subsidiari commiss receiv formal assur greek author issu matter exclus reserv oa manag issu ii regard constant interfer board oa dai dai manag compani issu commiss receiv formal assur greec accord greek law board mission remain limit gener formul compani polici iii regard cumbersom administr recruit procedur provid articl law issu commiss suppli greek law specif sui generi recruit procedur oa season staff oa directli contract season staff reserv list additon procedur iv regard approv work regul applic oa staff presidenti decre issu greec formal confirm commiss procedur appli framework law januari ordinari arrang greek labour law appli greek author case common practic social partner receiv formal endors agreement work regul state legisl provis regard specif arrang set law oa issu fact law determin work condit oa condit voluntari retir issu procedur order implement brought restructur programm oa provis law fact essenti element plan vi regard freedom oa defin organis network issu greec impos oa oblig oper small domest rout confirm oa free decid rout oper connect compani reorganis network part follow restructur take place basi commerci consider vii regard condit transport press public issu oa appli increas tariff june tariff base prevail iata rule viii regard settlement respect debt greek state oa issu greek author gave inform assur basi formal agreement greek civil aviat author oa servic provid oa greek civil aviat author provid accord oa normal commerci price polici compens respect debt oa greek civil aviat author carri basi oa ow grd billion greek civil aviat author past unpaid land park fee amount paid decemb amount grd million debt ow greek civil aviat author oa greek court settl matter januari issu ticket travel greek govern offici mission conduct normal commerci price term state entiti start pai back debt oa central govern agenc paid grd billion estim grd billion paid confirm amount involv social secur fund state entiti paid grd million estim grd billion paid confirm amount involv entiti financi posit pai remain debt budget reason state secur payment oa case state debt paid decemb debt privat entiti supervis public entiti public compani claim oa greek court accord normal procedur debt polit parti oa amount grd billion paid accord provis law payment decemb purpos amount concern deduct state fund made polit parti commit give oa fiscal statu public limit compani compar greek compani ordinari law articl initi decis regard scope tax exempt refer articl law issu greec gave written confirm commiss provis appli tax except profit result cancel oa debt total grd billion regard scope tax exempt refer articl law issu greec confirm provis appli tax recapitalis oa form charg tax state guarante commit bring agreement greek govern oa line provis packag decemb articl decis regard entri forc presidenti decre termin preferenti right oa oper mainland servic issu termin exclus oa oper mainland domest schedul servic oper januari oper date issu greek author refer presidenti decre septemb enter forc septemb presidenti decre formal termin preferenti exclus right oa oper mainland domest servic greec servic greec eea countri commit grant aid oa form whatsoev conform commun law articl initi decis regard aid involv grd billion mention articl law issu preferenti tax treatment redund indemn grant oa employe provid articl law issu greec cost preferenti tax treatment estim grd billion greec inform commiss letter juli take consider fact commiss consid measur involv aid oa reduc amount remain part capit inject carri accord restructur plan approv commiss grd billion ii regard aid involv articl law issu greec refer fact exact scope tax levi exempt clarifi involv aid expressli authoris initi decis iii regard aid involv continu exempt oa payment park land fee greek airport notif initi decis issu greec refer presidenti decre june exempt enjoi oa regard virtu greek decre dii formal abrog refer fact amount unpaid charg ow oa greek civil aviat author janauri compens debt ow greek civil aviat author oa issu commit accept principl airlin oa authoris oper rout greec countri belong eea make design multipl design sole basi merit request articl decis regard entri forc decre abrog exclus right enjoi oa regard issu greec refer abovement presidenti decree septemb enter forc septemb presidenti decre termin exclus right held oa oper servic greec eea countri commit accept indirect definit schedul air servic provis regul eec impos constraint schedul servic articl initi decis regard abolit exist restict provis schedul servic greek island issu greec refer greek regul decemb remov oper constraint initi provid transport freight greek regul march fulli appli commun air carrier includ oa issu handl issu grece refer modif greek regul procedur grant handl licenc adopt novemb greek civil aviat author oblig respond applic month absenc respons approv applic automat greek civil aviat author oblig grant licenc greec inform comiss cronu airlin grant handl licenc airport thessaloniki athen heraklion applic venu airlin ko consid compani ceas ground handl oper pend applic kal air greec avion airport heraklion rhode mtilini santorini thessaloniki initi refus present examin regard applic lodg lufthansa greec applic examin framework accord applic procedur request made compani audit personnel equip final greec commiss direct ec access ground handl market commun airport final stage implement airport fall scope direct remain cover present arrang applic greec arrang handl fulli authoris licenc refus basi object space capac constraint basi safeti secur consider revis restructur plan revis restructur plan submit greec commiss cover period take account final result oa preliminari result month result show posit oa deterior compar result set report submit greec august report project net profit order grd billion grd billion project restructur plan oa acut post net loss grd billion loss profit directli stem extraordinari salari increas grant order resolv personnel conflict increas result labour cost rise grd billion revis restructur provid aid authoris initi decis order reflect reduct remain amount capit increas grant oa counterbal grd billion aid issu revis plan capit increas grd billion initi plan amount grd billion revis plan aim ensur long term viabil compani full implement restructur measur provid initi plan implement addit restructur measur measur concentr object reorganis cost structur compani plan primarili base work regul includ law april provid work condit base recommend report produc mckinsei includ gener salari freez period limit converg salari increas period ii introduct work time condit crew member line intern standard iii reduct job approxim hierachi level iv discontinu allow grant specifc categori personnel overtim decreas introduct flexibl timet adapt oper compani merg posit ground staff vi reduct staff natur wastag reduct season staff measur oa reduc oper cost implement start improv yield work condit impact posit product compani yield plan measur product improv redesign implement market polici ii redimens network increas frequenc build hub type oper athen frequenc potenti profit rout increas timet reset oper profit rout discontinu iii entri fleet aircraft suit oper oa cost effect number aircraft fleet increas earli basi oa yield expect catch level achiev southern european air carrier market lesser extent oa influenc season leisur traffic plan compani wide reorganis role core busi activ redefin gradual transform autonom subsidiari compani order achiev result time busi plan mainten depart ground handl depart cargo oper develop charter activ develop special purpos made compani macedonian airlin plan base major invest plan carri capit drawn sharehold invest compris acquisit aircraft replac older total cost usd million join fleet septemb octob join fleet replac leav fleet sold addit join fleet subject oper requir restructur period join fleet move athen airport spata estim cost grd billion approxim grd billion expect financ compens grant greek state loss facil exist hellenikon airport close entri servic spata addit infrastructur invest present oper averag cost grd billion year main indic ratio financi project gt tabl gt gt tabl gt figur base assumpt aviat revenu increas durat plan grd billion grd billion ground handl revenu decreas grd billion grd billion result liberalis activ oper result expect increas grd billion decreas grd billion stabilis grd billion result major invest made oa move spata fleet renew accru financi oper leas expens interest expens depreci cost profit tax follow trend remain posit durat revis plan revis plan supplement implement plan set time measur implement cost time amount plan benefit agreement greek author commiss appoint consult verifi report submit greek author august analys sound revis restructur plan consult report submit commiss juli emerg report revis plan oa realist oa restor viabil medium term oa expect return profit compani face grd billion extraordinari cost due oper disrupt march april net profit tax rise grd billion reach satisfactori level substanti increas financi expens incur fleet renew programm decreas ground handl revenu consecut termin oa monopoli net profit tax decreas stabilis grd billion end plan expect decreas net result impli order maintain viabil date oa effect sustain cost lower level labour cost maintain current level activ durat plan regard report consult stress improv manag inform system requir manag oa constantli receiv time analysi total oper cost revenu enabl adapt revis plan provid addit measur need addit measur counteract shortfal revenu reduc labour cost ensur compens grant greec loss invest hellenikon airport time project invest carri spata airport compani expos larger cash requir light factual inform summaris commiss posit make final assess case legal assess vii term articl treati articl eea agreement aid grant member state state resourc form whatsoev distort competit favour undertak product good incompat common market eea agreement case import assess light provis aid measur grant grant greec oa initi authoris decis octob commiss decid april open procedur provid articl treati aid measur compris loan guarante extend compani octob pursuant articl greek law ii loan guarante total usd million loan contract decemb purchas aircraft iii eas undertak debt burden grd billion iv convers grd billion undertak debt equiti capit inject grd billion instal grd billion notifi aid measur grant greec oa commiss decid april open procedur provid articl treati addit notifi aid measur identifi commiss procedur measur compris payment state purchas cost militari servic year previou servic redund indemn paid employe accept earli retir amount grd billion provid pursuant articl law ii tax exempt period loan guarante exempt fiscal expens affect capit inject involv articl law iii appar continu date notif initi decis greec exempt oa payment land park charg greek airport iv preferenti tax treatment redund indemn grant oa employe accept earli retir provid articl law viii regard aid measur initi authoris commiss decid open procedur commiss consid doubt constitut state aid affect trade member state distort competit common market regard commiss refer assess set initi decis commiss consid derog provid articl treati articl eea agreement articl treati articl eea agreement appli case hand regard commiss refer assess set initi decis commiss consid derog provid articl respect aid intend promot facilit develop area appli case hand regard commiss refer assess initi decis regard derog provid articl treati respect aid facilit develop econom activ aid advers affect trade condit extent contrari common interest commiss refer initi decis examin criteria aid restructur compani consid compat common market met decis commiss consid compat aid common market subject respect greec commit set articl decis take account breach greec commit relev addit issu pertain case commiss examin compat aid common market purpos commiss verifi commit initi decis adher greec situat handl greek airport reflect assur greek author initi decis turn commit commiss identifi breach greec decis open procedur articl initi decis octob subsequ procedur articl initi decis octob commiss basi inform assur greek author notabl letter juli consid issu involv respect commit resolv issu regard cumbersom administr procedur set articl law issu commiss consid applic procedur perman staff unsuit flexibl personnel manag personnel plan advanc convers derog procedur appli season staff requir flexibl allow transpar time condit transport press public issu take account assur greec commiss verifi tariff set oa accord normal commerci polici compani cover cost activ tariff result increas yield grd tkt grd tkt break load factor decreas settlement respect debt oa greek state issu commiss consid payment greek state debt oa ensur reason time frame aid involv grd billion provid articl law issu grd billion result preferenti tax treatment redund indemn provid articl law issu commiss consid measur constitut state aid oa incompat common market mean articl treati fact hand greec unilater decid reduc amount remain capit increas carri amount equal nomin amount involv aid hand oa benefit remain amount capit increas instal schedul januari januari place commiss consid financi benefit oa princip interest neutralis basi aid effect competit aid involv articl law issu commiss consid greec confirm commiss tax exempt provid articl limit exempt authoris articl initi decis provis involv element aid oa aid involv appar continu date notif initi decis greec exempt oa payment land park charg greek airport issu commiss consid compens hand unpaid land park charg greek airport oa greek civil aviat author hand debt greek civil aviat author oa place greec confirm oa repai outstand amount greek civil aviat author estim grd billion interest includ decemb issu involv element aid oa commit breach greec identifi initi decis articl inform commiss demonstr greec fail compli commit commiss consid commit set initi decis fulli compli greec handl greek airport commiss account amend regul procedur grant licenc handl inform transmit greec applic lodg commun carrier assur greek author letter juli consid aspect handl effect authoris greek airport accord assur initi decis issu resolv issu commiss consid fact greec fulli observ commit suffic secur compat aid common market assess effect common interest past failur greec adher commit fact state continu interfer manag oa strict limit role sharehold result transfer oa problem competitor addit behaviour yield kind benefit oa contrari neg impact specif aspect restructur process compani appli fact state oa fiscal statu public limit compani compar greek compani ordinari law fact oa grant unauthoris aid total amount grd billion distort competit cumul effect fact remain amount capit inject carri date fact reduc amount neutralis distort effect aid competit fact presidenti decre termin preferenti exclus right oa oper mainland domest servic enter forc decemb effect practic competit condit mainland domest rout open competit fact presidenti decre termin oa exclus oper schedul intern servic eea countri enter forc reason time effect practic competit condit commiss inform refus greek author grant traffic right oper servic fact constraint oper schedul flight greec remain adopt initi decis effect competit condit constraint concern oper greek island concern specif aspect air transport effect competit condit limit commiss consid case limit effect offset fact oa receiv remain amount capit inject state guarante basi commiss consid past failur greec observ commit effect common interest limit effect larg offset neg consequ open procedur oa addit commiss verifi aid form part comprehens restructur programm aim improv financi health oa reason period viabl competit environ oper regard commiss note greek govern submit juli revis restructur programm cover period extend period restructur term provid initi plan updat initi plan extens restructur period oa redress situat regard achiev object provid initi plan revis plan provid aid measur authoris initi decis grant oa includ grd billion captial increas state guarante total usd million initi schedul loan contract decemb greec letter juli plan capit increas grd billion order account authorisi aid grant oa basi law addit regard state guarante plan state guarante loan contract decemb revis restructur plan redefin intensifi effort made oa term cost control product base work condit appli oa reduc labour cost improv personnel product labour cost product expect increas yield present low increas rise fare network restructur implement yield manag system improv product plan intens fleet utilis fleet growth remain limit addit aircraft durat plan fleet renew programm bring smaller aircraft present growth capac offer oa eea seat kilometr exce averag market growth result oa expect return profit earli increas revenu reduc cost plan oa maintain profit durat cope larg invest requir fleet renew programm move spata airport acquisit aircraft grd billion financ mix cash reserv long term loan contract commerci bank oper leas move spata financ cash flow reserv grd billion compens grant state loss invest hellenikon airport result closur airport estim grd billion regard compens greec confirm commiss letter juli compens involv element aid oa grant basi greek common law amount grant strictli correspond compani similar posit entitl receiv addit order allai doubt commiss regard time compens greec reasssur commiss basi agreement reach oa greek state compens paid coincid compani expenditur incur move spata airport view invest total grd billion futur viabil compani case fleet renew mandatori case move spata airport hellenikon airport close commiss consid take account unauthoris aid grant oa amount grd billion capit inject billion state guarante usd million grd billion financi cost sustain level period plan period revis plan debt equiti ratio remain higher typic industri averag reach line import amount invest oa sustain yield revenu substanti increas turnov grd billion grd billion basi reason level expect profit evolut debt equiti ratio commiss consid level aid approv initi decis suffici excess regard effect implement revis plan commiss reassur exist detail implement plan supplement revis plan implement plan set time measur implement cost time amount plan benefit reinforc credibilti revis plan commiss note manag inform system place oa manag compani constantli receiv adequ inform enabl follow result implement adapt revis plan commiss intend control basi detail report submit greec regard decemb latest fulli oper adequ manag inform system effect manag oa basi commiss consid revis plan constitut adequ framework order oa viabl year sustain viabil date final commiss recal exist commit greec framework initi decis mention fulli compli commit remain fulli applic period cover revis restructur plan decemb order secur compat aid common market mean articl treati order account fact restructur plan revis extend fact plan oa reach viabil year commiss consid effect compat aid common market requir condit result commit updat precis purpos payment instal grd billion subject complianc condit impos order secur compat aid common market actual implement revis restructur plan achiev expect result cost product ratio set part vi instal releas condit fulfil object revis restructur plan met week releas instal plan june end month octob march octob greec requir submit report commiss respect condit impos secur compat aid implement revis restructur plan achiev plan result cost product ratio set part vi greec requir continu ensur oa act price leader schedul rout athen stockholm athen london period cover revis restructur plan expand scope oblig air rout oper oa expressli mention articl initi decis commiss receiv substanti evid fare offer oa rout rais competit concern regard athen stockholm athen london rout commiss note commit articl fulli observ greec requir continu ensur period cover revis restructur plan number seat offer oa schedul flight eea inlcud addit season flight includ servic continent greec greek island exce offer oa eea market seat take account increas proport growth market question scope oblig expand compar articl initi decis order includ capac offer oa domest servic greek island reflect fact airport greek island longer exempt applic regul eec expand scope oblig servic eea countri competit posit oa rout regard commun carrier rais problem number rout oper oa eea countri limit offer oa rout oa intend discontinu oper servic boston montreal toronto nairobi addition commiss expressli confirm state guarante total usd million loan contract decemb purchas aircraft leas aircraft intent initi decis ix regard notifi aid measur account commiss decid open procedur addit notifi aid measur identifi procedur commiss refer assess made part viii regard respect greec commit grant aid oa form whatsoev issu basi commiss consid illeg aid involv articl articl law incompat common market effect aid competit neutralis commiss consid greec request recov aid addition commiss consid provis articl law issu unpaid land park fee oa greek airport involv element aid oa consider set part viii ix address concern express commiss decis april open procedur member state interest parti comment subsequ produc light forego commiss consid aid grant grant oa greec form loan guarante extend compani octob pursuant articl greek law ii loan guarante total usd million loan contract decemb purchas aircraft iii eas undertak debt burden grd billion iv convers grd billion undertak debt equiti capit inject grd billion reduc grd billion instal grd billion benefit derog provid articl treati articl eea agreement provid condit set initi decis pursuant articl met number condit ensur aid advers affect trade condit extent contrari common interest illeg aid grant oa greec accord articl law incompat common market greec requir order recoveri aid adopt decis articl restructur aid grant grant greec olymp airwai form loan guarante extend compani octob pursuant articl greek law ii loan guarante total usd million loan contract decemb purchas aircraft iii eas undertak debt burden grd billion iv convers grd billion undertak debt equiti capit inject grd billion reduc grd billion instal grd billion deem compat common market eea agreement pursuant articl treati articl eea agreement provid greec fulfil undertak refer articl commiss decis octob aid grant greec olymp airwai greec ensur oa act price leader schedul athen stockholm athen london rout period inclus greec ensur inclus number seat offer oa schedul flight eea includ addit season flight includ servic continent greec greek island exce offer oa eea market seat take account increas proport growth market question greec ensur decemb oa implement fulli oper adequ manag inform system greec submit decemb report commiss matter payment instal grd billion subject complianc condit impos order secur compat aid common market actual implement revis restructur plan achiev expect result cost product ratio set part vi week releas instal plan june end month octob march octob greec submit report commiss fulfil condit impos secur compat aid implement revis restructur plan achiev plan result cost product ratio set part vi instal releas condit compli object revis restructur plan met articl illeg aid grant oa greec accord articl articl law incompat common market eea agreement virtu articl treati articl eea agreement articl decis address hellen republ brussel august commiss karel van miert member commiss oj oj oj council regul eec licens air carrier oj council regul eec council regul eec fare rate air servic oj footnot page oj base aea estim