EU Court annuls EU's approval for Air France COVID-19 state aid
Reuters
Published Dec 20, 2023 09:19
Updated Dec 20, 2023 16:25
BRUSSELS/LONDON (Reuters) -The EU's General Court on Wednesday annulled the European Commission's 2020 decision to approve French state aid for Air France worth 7 billion euros ($7.67 billion) meant to soften the economic shock of the coronavirus pandemic.
The case is one of many brought by Ryanair (LON:0RYA), Europe's largest budget airline, against state aid granted to airlines throughout Europe to help them survive the pandemic.
An Air France spokesperson said Air France-KLM (LON:0LN7) and Air France had complied with state aid exit requirements to date.
"Air France-KLM and Air France will carefully study these judgments and assess their implications. They will consider whether to lodge an appeal on points of law before the Court of Justice of the European Union," the spokesperson said in an email.
In a statement, Ryanair welcomed the ruling: "The Court’s intervention is a triumph for fair competition and consumers across the EU."
($1 = 0.9123 euros)
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Written By: Reuters
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