ANNOUNCED AS TEMPORARYNo
Bailout (capital injection or equity participation)
In 27June 2013, the government of the Republic of Croatia approved a state aid amounting to 106 million Euros (136 million US Dollars) for the national carrier Croatian Airlines. The main reason for the injection was to fund the costs of the strategic restructuring plan that had been designed in order for Croatia Airlines to regain financial stability. The decision was approved by the Croatian Competition Agency.
The Croatian Government chose to approve the implementation of the state aid prior to officially joining the European Union in July 2013. After joining the EU, state aids become subject to the approval of the European Commission.
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.
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