Ryanair Must Return EUR8.4 Million in French State Aid, EU Says
26 7월 2022 - 9:58PM
Dow Jones News
By Anthony O. Goriainoff
The European Commission said Tuesday that France must recover
state aid received by Ryanair Holdings PLC that was incompatible
with European Union regulations.
The EU's executive branch said the French government must
recover 8.4 million euros ($8.6 million) from the Irish airline
after several contracts with La Rochelle airport between 2003 and
2010 constituted illegal state aid.
U.K. carrier Jet2 PLC will also have to repay EUR81,000 in
French state aid due to similar contracts signed with the airport,
the EC said.
The contract conditions gave an unfair advantage to both
airlines over competitors, as a profit-driven airport operator
would unlikely have granted such conditions, it said.
Although public airports can offer airlines attractive
conditions to stimulate traffic, these shouldn't go beyond what a
profit-driven airport operator would be willing to offer under the
same circumstances, following the market economy investor
principle, the commission added.
"If this principle is not respected, the conditions constitute
state aid and the Commission must then verify whether they can be
considered compatible with the EU rules on state aid," the European
Commission said.
Neither Ryanair nor Jet2 were immediately available for
comment.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
July 26, 2022 08:43 ET (12:43 GMT)
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