European Commission opens State aid in-depth investigation into Corsair amended restructuring plan

The European Commission has initiated an in-depth investigation into France’s proposed amendments to Corsair’s restructuring plan, aiming to determine its compliance with EU state aid regulations.

The initial restructuring plan, approved in December 2020, included €106.7 million in restructuring aid and €30.2 million in compensatory aid due to pandemic-related measures. France proposed amendments in September 2023 to allow Corsair to adapt to the evolving business environment.

The investigation will assess various factors, including the sufficiency of Corsair’s contributions, proportionality of aid, restoration of long-term viability, competition distortions, and the impact on economic development.

Interested parties, including Corsair, now have the opportunity to submit comments, with the investigation not prejudging the final outcome. EU State aid rules permit support for companies in difficulty under strict conditions.

Corsair is a French airline based at Paris-Orly airport and registered in the Commercial and Companies Register of Pointe-à-Pitre in Guadeloupe. At the end of December 2023, Corsair had a fleet of nine aircraft serving mainly the French outermost regions of the Caribbean (Martinique, Guadeloupe) and Africa (La Réunion, Mayotte).