COVID-19: ESA approves aid scheme for Icelandic aviation academies*
The EFTA Surveillance Authority (ESA) has today approved an Icelandic scheme that compensates aviation academies for losses resulting from COVID-19 restrictions.
The objective of the scheme is to ensure access to liquidity for aviation academies that have experienced an income loss in the period March 2020 to June 2022 as a consequence of COVID-19-related measures introduced by the Icelandic authorities.
Flight training in Iceland was significantly affected by the pandemic measures put in place, and by the drop in the number of flights. Aviation academies experienced a significant drop in applications in addition to students postponing their studies and requesting repayments of school fees. The combination of all this led to financial hardship for the aviation academies.
The scheme sets out several conditions for receiving grants.
The scheme is approved in line with the European Commission’s Temporary Framework for state aid measures to support the economy in the current COVID-19 outbreak.
You can read ESA’s decision here.