Aegean awarded state funds following successful capital increase

Aegean Airlines has received a E120m grant from the Greek government, after completing a required E60m share capital increase. The carrier says the grant was disbursed on 2 July “with the aim of compensating the company for the losses directly caused by the coronavirus outbreak”. In May, Aegean’s board agreed the terms of the E60m capital increase, which was a pre-requisite for receiving the state aid. Having received its government grant, the airline says it will now issue and deliver warrants to the Greek state. Just over 10 million warrants will be issued, each providing the right to purchase one new common registered share with a nominal value of E0.65, at an exercise price of E3.20 per share. <br/>