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P. 116
Financial Statements
4.33 Events after the Balance sheet date
(a) On 0th of December 007, AIA received from OAW the amount of € 14.040.75 against its past due
billings. From the aforementioned payment, the amount of € 1.740.598 regards the Company’s debt
which has been covered by the Subordinated loan under the Article 1.4. of the ADA. Since, the
aforementioned loan is repayable within 10 days after the day, which Olympic Airways will effect any
payment against the billings of the relevant period, AIA set-off this liability with the existing overdue
claim towards the Greek State regarding the excess municipal tax paid related to the previous years on
008.
(b) On 8th of March 008, AIA will proceed with the full repayment of the Commercial & Cargo Loan
Agreement of €77.0.19 after the EIB’s waiver of its right to demand proportionate prepayment of
EIB outstanding balance. The prepayment of the Commercial and Cargo loans will be partially financed
by the release of the funds of €56.767.90, that are reserved as Blocked Deposits.
64
4.33 Events after the Balance sheet date
(a) On 0th of December 007, AIA received from OAW the amount of € 14.040.75 against its past due
billings. From the aforementioned payment, the amount of € 1.740.598 regards the Company’s debt
which has been covered by the Subordinated loan under the Article 1.4. of the ADA. Since, the
aforementioned loan is repayable within 10 days after the day, which Olympic Airways will effect any
payment against the billings of the relevant period, AIA set-off this liability with the existing overdue
claim towards the Greek State regarding the excess municipal tax paid related to the previous years on
008.
(b) On 8th of March 008, AIA will proceed with the full repayment of the Commercial & Cargo Loan
Agreement of €77.0.19 after the EIB’s waiver of its right to demand proportionate prepayment of
EIB outstanding balance. The prepayment of the Commercial and Cargo loans will be partially financed
by the release of the funds of €56.767.90, that are reserved as Blocked Deposits.
64
