L 358/30 Official Journal of the European Union 13.12.2014 COMMISSION DECISION of 23 July 2014 on State aid SA 15395 (C 11/04) granted by Greece to Olympic Airways (Privatisation) (notified under document C(2014) 5017) (Only the Greek text is authentic) (Text with EEA relevance) (2014/902/EU) THE EUROPEAN COMMISSION, Having regard to the Treaty on the Functioning of the European Union, and in particular the first subparagraph of Article 108(2) thereof, Having regard to the Agreement on the European Economic Area, and in particular Article 62(1)(a) thereof, Having called on interested parties to submit their comments pursuant to the provisions cited above, Whereas: I. PROCEDURE (1) By Decision C(2004) 772 of 16 March 2004 ('), the Commission decided to initiate the procedure laid down in Article 108(2) of the Treaty in respect of a number of financial flows and transfers to and from Olympic Airlines (OAL) and Olympic Airways Services (OAS). (2)  On 14 September 2005, by negative Commission Decision C(2005) 2706 (3, the Commission closed case C11/2004 involving illegal and incompatible State aid granted to OAL and OAS. (3) By Decision C(2008) 5074 of 17 September 2008 (*) and by Decision C(2009) 1824 of 10 March 2009 (%), the Commission authorised the sale of certain key assets of OAL and OAS, concluding that the sale did not entail State aid, provided it was conducted in line with the requirements set out in those decisions. (4)  Subsequently, OAL and OAS were put into liquidation. Their remaining assets were to be sold by the liquidator through a liquidation procedure, and a Monitoring Trustee was appointed to oversee this process. (50 On 13 September 2010, the General Court partially annulled the negative Commission State aid Decision C(2005) 2706 of 14 September 2005 (°). The General Court found that the Commission had not sufficiently established that some of the contested measures in respect of OAS amounted to illegal State aid incompatible with the internal market and that as regards some of the measures in respect of OAL the Commission had failed to state reasons. (6)  The General Court partially annulled Decision C(2005) 2706 which had ordered the recovery of aid granted a) to Olympic Airlines by way of an overvaluation by EUR 91,5 million of Olympic Airways’ assets transferred to Olympic Airlines, for failing to establish/demonstrate that this measure amounted to illegal State aid incompatible with the internal market, and b) to Olympic Airlines by way of accepting discounted aircraft sub-lease payments amounting to EUR 39,75 million, for failing to state reasons. (7)  The Commission did not appeal the partial annulment. () 0] C192,28.7.2004, p. 2. () OJL45,18.2.2011,p. 1. () 0]C18,23.1.2010, p. 9. () 0] C25,2.2.2010,p. 15. () Judgment in Joined Cases T-415/05, T-416/05 and T-423/05 Hellenic Republic, Olympiakes Aerogrammes AE (Olympic Airlines) and Olym- piaki Aeroporia Ypiresies AE (Olympic Airways-Services) v Commission.