21.5.1999 Official Journal of the European Communities L 128/1 (Acts whose publication is not obligatory) COMMISSION COMMISSION DECISION of 14 August 1998 on aid granted by Greece to Olympic Airways (notified under document number C(1998) 2423) (Only the Greek text is authentic) (Text with EEA relevance) (1999/332/EC) THE COMMISSION OF THE COMMUNITIES, EUROPEAN Having regard to the Treaty establishing the European Community, and in particular the first subparagraph of Article 93(2) thereof, Having regard to the Agreement on the European Economic Area, and in particular point (a) of Article 62(1) thereof, Having given the parties concerned notice ('), in accordance with the provisions of the abovementioned Articles, to submit their comments, and having regard to those comments, Whereas: THE FACTS ()  On 7 October 1994, the Commission adopted Decision 94/696/EC on the aid granted by Greece to Olympic Airways (%) (hereinafter ‘the initial Decison’ according to which the aid granted and to be granted by Greece to Olympic Airways (‘OA’) is compatible with the common () O] C 176, 19.6.1996, p. S. (2) OJ L 273,25.10.1994, p. 22. market and the Agreement on the European Economic Area (‘the EEA Agreement’) by virtue of Article 92(3)(c) of the Treaty and of Article 61(3)(c) of the EEA Agreement. The aid comprised: (a) loan guarantees extended to the company until then pursuant to Article 6 of Greek Law No 96/75 of 26 June 1975; (b) new loan guarantees totalling USD 378 million for loans to be contracted before 31 December 1997 for the purchase of new aircraft; (c) easing of the undertaking’s debt burden by GRD 427 billion; (d) conversion of GRD 64 billion of the undertaking’s debt to equity; (e) a capital injection of GRD 54 billion in three instalments of GRD 19, 23 and 12 billion in 1995, 1996 and 1997 respectively. The last four of these five measures formed part of a restructuring and recapitalisation plan for OA which had initially been submitted to the Commission. On this basis, the Commission considered that the aid would facilitate the development of air-transport activity in a fragmented,  peripheral = region of the