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EU clears 650 million euros to support Polish airline LOT

·1-min read
FILE PHOTO: Polish Airlines LOT Embraer ERJ-175LR SP-LIM aircraft taxis to runway at the Chopin International Airport in Warsaw

BRUSSELS (Reuters) - EU regulators approved on Tuesday two state aid measures worth a total of 650 million euros ($795.6 million) for Poland's national carrier LOT to help the airline with losses suffered during the coronavirus crisis.

The aid measures consists of a 400 million euros subsidised loan and a capital injection of around 250 million euros.

"The decision ensures that the state is sufficiently remunerated for the risk taxpayers assume, and that the support comes with strings attached, including a dividend ban as well as further measures to limit distortions of competition," the European Union’s antitrust chief, Margrethe Vestager said in a statement. ($1 = 0.8170 euros)

(Reporting by Marine Strauss @StraussMarine; editing by Philip Blenkinsop)