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In a further response to the COVID-19 (coronavirus) crisis, the European Central Bank (ECB) has launched a €750 billion Pandemic Emergency Purchase Program (PEPP), a new temporary asset purchase program of private and public sector securities, which will last until at least the end of 2020.
The current COVID-19 (coronavirus) crisis sweeping the world is having a hugely disruptive impact on society and business, and our first thoughts and best wishes are with our clients, colleagues and their families who are facing this unprecedented public health challenge.
Given the scale of the crisis, many businesses and sectors will require government support in various forms including potentially crisis loans, state guarantees and tax waivers or deferrals.
Many organisations are facing significant losses as a result of the COVID-19 (coronavirus) pandemic.
The below Q&A addresses the state aid implications of heightened State intervention as a result of COVID-19 – in particular, as it applies to the aviation industry in the EU. In short, the immediate response from the European Commission (the Commission) should give companies some comfort that emergency assistance offered by EU Member States can be designed in compliance with state aid law.
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