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EU okays 1.2 billion euro loan for TAP, to probe 3.2 billion restructuring aid By Reuters

© Reuters. FILE PHOTO: A TAP Air Portugal plane taxis at Lisbon’s airport during the coronavirus disease (COVID-19) outbreak, in Lisbon, Portugal July 17, 2020. REUTERS/Rafael Marchante/File Photo

BRUSSELS (Reuters) – EU competition regulators on Friday approved a 1.2-billion-euro ($1.42 billion) rescue loan for ailing Portuguese airline TAP and also opened an investigation into 3.2 billion euros restructuring aid Lisbon wants to give to the carrier.

The European Commission said the investigation will look into whether the restructuring aid complies with EU state aid rules.

($1 = 0.8461 euros)

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