Aviation Sector: Commission Approves EUR 122.2 million for Swedavia recapitalisation
Today, the European Commission has approved a EUR 122.2 million recapitalisation to support Swedavia, the operator of ten airports in Sweden. This aid aims to compensate Swedavia for financial losses caused by the COVID-19 pandemic, particularly due to travel restrictions imposed in Sweden. The measure was assessed under Article 107(2)(b) TFEU, which allows to remedy a serious disturbance in the economy of a Member State, such as compensation for damage caused by an exceptional occurrence, namely the pandemic.
In October 2020, Sweden granted EUR 215.5 million in aid to Swedavia. Following a further calculation of the damages, the need for recapitalisation was reassessed at EUR 122.2 million which have been greenlighted by the Commission. Sweden recovered EUR 75.8 million from Swedavia in 2022 and plans to recover additional EUR 17.5 million.
The Commission found that the revised amount of aid is necessary, appropriate, and proportionate, ensuring it does not exceed the actual damages incurred. Swedavia had also taken steps to minimise the losses.
A non-confidential version of the decision will be made available under the case numbers SA.58880 and SA.57025 in the state aid register.