Local view for "http://purl.org/linkedpolitics/eu/plenary/1999-11-16-Speech-2-250"
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"en.19991116.10.2-250"2
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"Ladies and gentlemen, a series of decisions were taken in 1994 – specifically to grant aid to various European companies – with the aim of carrying out the reorganisation of those companies which would allow, on the one hand, their possible privatisation but, in any case, to put a definitive end to the State subsidies and aid which, to a certain extent, distorted the single market and free competition between the different operators in the deregulated air market. This aid was given on the condition that the companies were managed commercially – and therefore that the administrations and authorities of those countries would not be involved – that a suitable process of reorganisation would be carried out and that, finally, we would have viable companies which could develop without the need for new public aid.
The reality is that – according to the information provided by the Greek authorities themselves – there has been an excessive involvement of the Greek administration in the management of the company, and the commitments of 1998 should have put an end, once and for all, to this situation.
The granting of aid other than that authorised, which has happened over recent years, has been aimed, above all, at the funding of the social element of the reorganisation plan, and specifically supplementary compensation for employees made redundant. Therefore, there was a reduction in the aid authorised in 1998, in such a way that the total allocation did not increase. It is considered that this aid for social purposes should be deducted from the total amount which was granted to Olympic Airways.
And lastly, I have to say that the financial results of the company in 1998 are disappointing. They have led to the current Greek authorities taking a very important decision, specifically the appointment of a new board of directors, turning to experts from other companies – that is, Speedway, a subsidiary of British Airways – which must update the company’s recovery plan and which, I am sure, will be able to offer us over the next month, sufficient information and the necessary guarantees so that, once and for all, we can authorise the last batch of aid to Olympic Airways and ensure that it takes off correctly and takes to the air without any great problems."@en1
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