€60M Greek ferry support programme to mitigate fuel cost impacts

The Greek government is preparing a support programme worth almost EUR 60 million to assist the country's ferry operators as higher marine fuel costs continue to increase operating expenses and raise concerns over potential fare increases. The initiative is intended to help operators absorb part of the additional costs while maintaining stable ticket prices for passengers.

The core of the programme is a new compensation mechanism covering the mandatory social fare discounts that ferry companies are required by law to provide. Eligible categories include young children, low-income travellers, students, large families, people with disabilities, war pension beneficiaries and their qualifying companions. Voluntary commercial discounts offered at the discretion of individual operators will not be eligible for reimbursement. According to Greece's 2026 Annual Progress Report, the measure is expected to have an annual fiscal cost of ~EUR 56 million while providing the ferry sector with additional liquidity.

Rather than allocating fixed subsidies, the government will calculate compensation based on the number and value of qualifying discounted tickets issued by each operator. Ferry companies will be able to request advance payments, with the final reimbursement determined after passenger records and ticketing data have been verified. The implementation framework has already been presented to the Coastal Shipping Council, and the final regulations are expected to be enacted through a Joint Ministerial Decision following industry consultations.

Fuel remains one of the largest operating costs for ferry operators, leaving the sector exposed to fluctuations in international energy markets. While some companies have mitigated part of this risk through fuel-hedging strategies and have benefited from strong summer passenger demand, the government continues to monitor market developments and has indicated that additional measures could be considered should fuel prices remain elevated and begin to affect passenger fares.

The reimbursement mechanism will be introduced gradually, with 2026 serving as a pilot year. Payments will be made in two stages, covering mandatory discounted tickets issued between March and May and those issued from June through October. Operators applying for an advance payment may receive up to 30% of their estimated compensation, while the remaining balance will be paid following verification. Companies choosing not to request an advance will be able to submit their documentation for a single payment after the verification process is completed.

From 2027 onwards, the programme is expected to operate throughout the full calendar year. Verification will be carried out through Greece's Electronic Passenger Reservation and Ticket Issuance System, enabling authorities to confirm eligible journeys, identify mandatory social discounts and calculate compensation based solely on verified completed voyages.