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Olympic Airways Fines

The Commission has today adopted a decision requesting the European Court of Justice to impose a lump sum penalty and a periodic penalty on Greece for its failure to implement its 2002 decision in relation to the recovery of a State aid estimated at least €160 million granted by Greece to Olympic Airways between 1998 and 2002.

Having regard to the seriousness and duration of the infringement, today's decision requests the Court to impose on Greece the imposition of a lump sum payment of 10 512 € for each day since the 2005 Court ruling until the effective implementation by Greece of the 2002 decision. If nevertheless this decision is not fully implemented when the Court issues its second ruling, then the Court may also impose on Greece, from the day of this ruling, a periodic penalty payment of 53 611 € per day until effective implementation of the 2002 decision is carried out.

From: Commission requests Court of Justice to oblige Greece to comply with 2002 Commission decision on illegal subsidies granted before 2002 to Olympic Airways, Ref: IP/06/1424, Brussels, 18 October 2006

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