The European Commission announced on Thursday the approval of a 2m-euro Cypriot state aid program to support travel agents affected by the effects of the pandemic, as part of a temporary state aid framework.
According to an announcement, the program concerns direct grants to travel agents operating in the Republic of Cyprus and have concluded contracts with airlines that operate flights to Cyprus through Larnaca and Paphos airports.
The purpose of the Cypriot program, it is noted, is to provide incentives for the arrival of tourists, while indirectly benefiting relevant businesses such as hotels, restaurants, the food industry but also cultural and sporting events.
According to the Commission, the measure complies with the conditions set by the provisional framework as the aid:
Will not exceed EUR 2,3 million per beneficiary, and
- will be granted no later than April 30, 2022.
The measure was deemed necessary, appropriate and proportionate to address the disruption of the economy, under Article 107 (3) (b) of the EU Operational Treaty and the conditions set out in the provisional framework.
The non-confidential version of the decision will be published under case number SA.101278 in the State Aid Register on the Commission's Competition website once any confidentiality issues have been resolved.