COBALT assisted in obtaining the state aid authorisation from the European Commission

COBALT advised the Estonian Ministry of Economic Affairs and Communications in obtaining the authorisation for state aid from the European Commission.

The European Commission approved under the EU State aid rules a €20 million Estonian scheme to compensate four international passenger ferry operators active on the routes connecting Estonia with Finland and with Sweden for damages suffered due to the COVID-19 restrictions. The compensation will cover up to 80% of the damages suffered, calculated as the difference between the lost revenues and the savings in variable costs for the period during which the ferry operators were prevented from operating, compared to the same period in 2019.

The COBALT’s team included Partner Elo Tamm and Senior Associate Mart Blöndal, whose role was to assist in developing the mechanism of the initial aid measure, analysing compliance of the measure with state aid rules and subsequently advising the Ministry of Economic Affairs and Communications in applying for the approval of the aid scheme from the European Commission.