Stock Groups

Ryanair to appeal after court backs EU order to repay Austrian airport aid By Reuters


© Reuters. FILEPHOTO: A view from the Ryanair headquarters, Dublin, Ireland. September 16th, 2021. REUTERS/Clodagh Kilcoyne

By Padraic Halpin and Foo Yun Chee

DUBLIN/LUXEMBOURG (Reuters) – Ryanair on Wednesday said it would appeal a ruling by Europe’s second-highest court rejecting its challenge against an EU order to repay millions of euros in illegal aid given by an Austrian airport.

TUIfly’s challenge on the same matter was also rejected by the Luxembourg-based General Court.

According to the 2016 European Commission decision, certain marketing and airport services agreements were made between Ryanair in Austria and Ryanair in the southern Austrian region.

EU competition watchdog claimed that lossmaking contracts were state aid because the airline’s operating costs were reduced.

Banner 3

The illegal aid was estimated at approximately 2 million euros (£1.7 million), TUIfly at 1 million, and HLX at 9.6 millions. Both Ryanair, TUIfly and others challenged the decision.

In both instances, the Court concurred with the Commission. Ryanair will appeal to the EU Court of Justice. This Court is Europe’s top court.

These cases are T-448/18 Ryanair and Others and Commission and T-447/18 TUIIfly and Commission.

($1 = 1.1714 euros)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs include futures, stocks, indexes and Forex. Prices are provided not by the exchanges. They are provided by market makers. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.