Official Journal of the European Communities 31. 10. 91 No L 300/48 | (Acts whose publication is not obligatory) COMMISSION COMMISSION DECISION of 24 July 1991 on aid to be granted by the Belgian Government in favour of the air carrier Sabena ' (Only the Dutch and French texts are authentic) (91/555/EEC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Economic Community, and in particular the first subpara- graph of Article 93 (2) thereof, ‘ Having given notice to the parties concerned to submit their comments as provided for in Article 93, Whereas, By letter of § April 1991 the Belgian Government, in conformity with Article 93 (3) of the EEC Treaty, notified the Commission of its intention to grant aid to Sabena. According to this notification the Belgian Government intends to support the restructuring of the Belgian air carrier_Sabena with a package of measures including : — a transfer of Bfrs 16,2 billion into Sabena’s capital which had been granted by the State over the perio 1949 to 1981, : — a capital increase of Bfrs 10 billion by subscription of shares and immediate payment, — a capital reduction with cancellation of ordinary shares held by the Belgian State amounting to Bfrs 30,2 billion and made up of : " — wiping out losses of Bfrs 22,6 billion, — provision for restructuring Bfrs 7,6 billion. Furthermore, the Belgian Government intends to inject an additional amount of Bfrs 9 billion in the context of a second stage of recapitalization. It is foreseen that new industrial partners and private Belgian shareholders will contribute with an amount of Bfrs 10 billion to the completion of the recapitalization programme. After the completion of this recapitalization programme, it is fore- seen that Sabena will have the following ownership struc- ture : — Belgian State : 26,7 %, — Belgian shareholders : 26,7 % — Industrial partners : 40,0 % — Staff : 6,0 %. The Belgian Government has also announced its inten- tion to base its participation in restructuring Sabena on the double condition that the company : — is commercially' viable in future, ; : — finds a reliable industrial partner (airline) for future cooperation. The Belgian Government has furthermore informed the Commission of Sabena’s intention to reduce its perma- nent staff from 12 180 in 1991 to about 9 000 towards the end of 1993.