What Commission Decision (EU) 2024/2549 of 29 November 2023 on State aid SA.57543 and SA.58342 (2020/NN) (ex 2020/N), implemented by the Kingdom of Denmark and the Kingdom of Sweden for Scandinavian Airlines System AB (notified under document C(2023) 8356) requires
Commission Decision (EU) 2024/2549, adopted on 29 November 2023 and published in the Official Journal of the European Union on 1 October 2024, concerns State aid cases SA.57543 and SA.58342 implemented by the Kingdom of Denmark and the Kingdom of Sweden for Scandinavian Airlines System AB ('SAS'). The Measure comprised two recapitalisation instruments: the subscription by Denmark and Sweden to State hybrid notes (the 'hybrid capital instrument') and the subscription by those two Member States of new common shares (the 'equity instrument'), with a total maximum notified amount of approximately SEK 11 billion (EUR 1.069 billion). The Measure was originally notified under Article 107(3), point (b), TFEU as interpreted by section 3.11 of the Temporary Framework for State aid measures to support the economy in the COVID-19 pandemic. The initial decision of 17 August 2020 was subsequently annulled by the General Court in Case T-238/21 (the 'SAS II judgment') of 10 May 2023, on the ground that the Commission had failed to require the inclusion of a step-up or an alternative mechanism regarding the equity instrument, contrary to points 61 and 62 of the Temporary Framework. Following that annulment, the Commission initiated the procedure under Article 108(2) TFEU, collected comments from interested parties including SAS and Ryanair, and re-assessed the Measure based on the facts and elements prevailing at the time the aid was granted on 26 October 2020. Denmark and Sweden ultimately paid SEK 9.54 billion (EUR 907 million) in aid. The Decision applies to Denmark and Sweden as granting Member States and to SAS as the sole beneficiary.
Pillar: Legal & IP Sovereignty · Authority: European Commission · Version: 1.0.0 · Last updated:
Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32024D2549
SHA-256 integrity: 9598eb05b3376823d55da7766fbe33c02f779d0cb8eac486875cf680fe506913
Primary Citations — 10 traced to source
- Recital (3)-(4): 'The Measure comprised two recapitalisation instruments: the subscription by Denmark and Sweden to State hybrid notes (the 'hybrid capital instrument'); and, the subscription by those two Member States of new common shares (the 'equity instrument'). The total maximum amount of the Measure, as notified by Denmark and Sweden on 11 August 2020, was approximately SEK 11 billion (EUR 1,069 billion), of which approximately SEK 6 billion was to be provided by Denmark and SEK 5 billion by Sweden.'
- Recital (7): 'Denmark and Sweden granted the aid to SAS on 26 October 2020. Denmark and Sweden in the end paid an amount of aid of approximately SEK 9,54 billion (EUR 907 million), which was thus lower than the SEK 11 billion envisaged in the notification and approved by the Commission in the initial decision.'
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