Olympic Airlines- one more Nail- Feb 14, 2008
Greece failed to comply with a European Commission decision that aid the government gave to Greek carrier Olympic Airlines was illegal and should be recovered, a top European Union court ruled on Thursday.
“By not taking within the prescribed period all measures necessary to put an end to aid declared unlawful and incompatible with the common market, and to recover it from the recipients, Greece has failed to fulfil its obligations,” the Court of First Instance said in a statement.
In December 2007, the Commission had launched an investigation into whether Olympic Airlines received illegal state aid.