ANNOUNCEMENT 24 Dec 2009

In December 2009, the government of Belgium announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising
Inception date: 24 Dec 2009 | Removal date: open ended
Still in force

Bailout (capital injection or equity participation)

On 24 December 2009 the Belgian authorities contacted the European Commission regarding their intention to admit arestructuring aid for SNCB (Société Nationale des chemins de fer belges) of EUR 490 000 000.
 
The SNCB is the national railway company of Belgium. It comprises of administrative services, B-Cargo, SNBC Technics, SNBC Mobility and general services. Besides its activities in Belgium, SNBC also operated internationally (SNBC Mobility).
 
Global volumes of SNCB have gradually diminished, being 8130 Tkm on 2005 and 5591 Tkm on 2009. At the same time the returns have fallen from 461 million euros on 2007 to 326 million euros on 2009. According to the Belgian authoritied SNCB would benefit from restructuring and capital injections.
 
"Considering the foregoing including all compensatory measures granted by the Belgian authorities, the Commission considers that, in the specific circumstances of this case, the notified aid measures are not likely to cause undue distortion of competition." (par. 244 of the letter from the European Commission to Belgium - Brussels 3.6.2009 C(2009) 4016 final.

 
The commission notified that the aid measures communicated by the Belgian authorities are in line with the article 107, paragraph 3 of TFUE.
 

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
N/A