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Brussels, 8 May 2001

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Brittany plays a vital role in communications in the Atlantic Arc, by offering maritime transport services between , the , and . The company is one of the driving forces behind regional development in and Lower Normandy and plays a similar role in certain UK port regions ( and ) and in Spain (Santander). In the light of these industrial and social factors, and taking into account the financial forecasts analysed, the Commission took the view that the restructuring in progress, which has been examined in the light of the Community guidelines for State aid for the rescue and restructuring of firms in difficulty, already heralds a return to viability for the company (the net results will be positive in 2002/2003) and will ensure the lasting viability of Brittany Ferries. The allocation of aid amounting to FF 316 million (¼ PLOOLRQ  LV WKHUHIRUH MXVWLILHG However, the Commission has decided not to authorise additional aid totalling FF 80 million (¼PLOOLRQ DVLWPLJKWGLVWRUWWKHPDUNHWDQGZRXOGEHFRQWUDU\WRWKH Community interest. The Commission has also examined other aspects concerning Brittany Ferries and has come to the conclusion that: - any aid element relating to the inappropriate absence of adequate remuneration of the guarantee of FF 10 million paid in 1992 constitutes operational aid which should be recovered once the exact amount of the aid has been established; - Brittany Ferries' banking relations with Crédit Agricole are of a private nature and cannot therefore constitute aid; - certain reductions in port fees in favour of Brittany Ferries have been made in accordance with market practices and cannot constitute State aid. With this decision the Commission has closed, after three years, the State aid examination procedure initiated in May 1998 and extended in December 1998.

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