Commission approves Belgian €61m rescue loan for rail freight firm Lineas

The loan covers the short-term liquidity needs of Europe's largest private rail freight operator for six months; if it is not repaid, Belgium must submit a restructuring plan.

The European Commission has cleared as compatible with state aid rules a Belgian loan of €61 million to rescue rail freight operator Lineas Group (cases SA.120185 and SA.101469); Belgium notified it in August 2025 to cover the group's short-term liquidity needs for six months. Lineas, which the Commission describes as Europe's largest private rail freight operator with services in Belgium, France, Germany, Italy and the Netherlands among others, had run into difficulty after an unexpected drop in demand from the steel, automotive and chemical industries. Two earlier capital injections in 2023 and 2024 by the Belgian state fund FPIM/SPFI together with the investor Argos Wityu were found not to be state aid. (LOK Report, 22 Dec 2025)