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Cyprus

EU green lights €2m Cyprus state aid for tour operators

vaccine travel22

The European Commission has approved Cyprus’ €2 million scheme to support tour operators affected by the coronavirus pandemic, it said on Thursday.

The measure was approved under the State aid Temporary Framework, with public support taking the form of direct grants. The measure will be open to tour operators active in the Republic of Cyprus that have concluded contracts with air carriers travelling to Cyprus via the airports of Larnaca and Paphos.

The purpose of the scheme is to incentivize incoming tourism, while indirectly benefitting many related businesses such as hotels, restaurants, the food industry, cultural and sports events.

The Commission found that the Cypriot measure is in line with the conditions set out in the Temporary Framework. In particular, the aid will not exceed €2.3 million per beneficiary and will be granted no later than April 30, 2022, it said.

“The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions of the Temporary Framework. On this basis, the Commission approved the measure under EU State aid rules,” it said.

 

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