{"id":114574,"date":"2021-05-19T11:43:08","date_gmt":"2021-05-19T11:43:08","guid":{"rendered":"https:\/\/fin2me.com\/?p=114574"},"modified":"2021-05-19T11:43:08","modified_gmt":"2021-05-19T11:43:08","slug":"rare-wins-for-ryanair-in-eu-court-ruling-on-aid-for-klm-tap","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/rare-wins-for-ryanair-in-eu-court-ruling-on-aid-for-klm-tap\/","title":{"rendered":"Rare wins for Ryanair in EU court ruling on aid for KLM, TAP"},"content":{"rendered":"<p>BRUSSELS (Reuters) -Ryanair won two victories in its fight against billions of euros in state aid granted to rivals as Europe\u2019s second-highest court annulled EU-approved schemes for KLM and Portugal\u2019s TAP.<\/p><figcaption>FILE PHOTO: A Ryanair Boeing 737-800 airplane takes off from the airport in Palma de Mallorca, Spain, July 29, 2018.  REUTERS\/Paul Hanna\/File Photo<\/figcaption><p>The Luxembourg-based General Court, however, said the annulments and recovery of the aid would be suspended pending new decisions by the Commission.<\/p>\n<p>\u201cThe General Court annuls the Commission\u2019s decision to approve the Netherlands financial aid for the airline KLM amid the COVID-19 pandemic on the grounds of inadequate reasoning,\u201d the Court said.<\/p>\n<p>Judges also rejected the EU executive\u2019s clearance of state aid for Portuguese carrier TAP, citing \u201can inadequate statement of reasons\u201d by the Commission.<\/p>\n<p>The EU competition enforcer last year cleared a 3.4-billion-euro ($4.15 billion) Dutch bailout for airline KLM and a 1.2 billion euro rescue loan for Transportes Aereos Portugueses (TAP).<\/p>\n<p>\u201cThe European Commission\u2019s approvals of state aid to Air France-KLM and TAP went against the fundamental principles of EU law and reversed the clock on the process of liberalisation in air transport by rewarding inefficiency and encouraging unfair competition,\u201d Ryanair said following the ruling.<\/p>\n<p>On Wednesday the Court rejected Ryanair\u2019s challenge to a 10-billion- euro Spanish fund for virus-hit companies approved by the European Commission, saying the measure complied with EU laws.<\/p>\n<p>Related Coverage<\/p>\n<\/p>\n<p>Governments around the world have pumped billions of euros into the airline industry hit by virus-related restrictions and lockdowns.<\/p>\n<p>Last month, the same court backed EU competition regulators\u2019 approval of support for SAS and Finnair while in February judges also upheld state aid granted to rivals including Air France and SAS.<\/p>\n<p>Europe\u2019s biggest budget airline has filed 16 lawsuits against the Commission for allowing state aid to individual airlines such as Lufthansa, KLM, Austrian Airlines and TAP, as well as national schemes that mainly benefit flag carriers.<\/p>\n<p>The cases are T-465\/20 Ryanair v Commission, T-643\/20 Ryanair v Commission and T-628\/20 Ryanair v Commission.<\/p>\n<p>($1 = 0.8187 euros)<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/eu-ryanair-hldgs-stateaid\/update-1-rare-wins-for-ryanair-in-eu-court-ruling-on-aid-for-klm-tap-idUSL2N2N611C\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BRUSSELS (Reuters) -Ryanair won two victories in its fight against billions of euros in state aid granted to rivals as Europe\u2019s second-highest court annulled EU-approved [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":114573,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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