Benzinga - by Akanksha Bakshi, Benzinga Editor.
Italy’s competition watchdog is probing Ryanair Holding (NASDAQ:RYAAY) for possibly abusing its market dominance, potentially harming travel agencies, competitors, and consumers.
The inquiry revolves around allegations that Ryanair restricted both physical and online travel operators from accessing promotions and discounts on its platform, a decision anticipated to be detailed further by the regulator later on the same day, reported Reuters, citing Italian daily newspaper Il Messaggero.
The airline boasts the highest passenger numbers in Europe. It’s expected to respond within eight days and is likely to hold discussions with the regulatory body on April 18, as per Il Messaggero.
The probe highlights worries that Ryanair might hinder industry competition. If unresolved to the antitrust authority’s satisfaction, Ryanair could be forced to change its policies and allow travel agencies unrestricted access to its services.
Ryanair aims to grow its presence at Rome’s Fiumicino airport. It’s also eyeing opportunities from the potential toe-up between ITA Airways and Lufthansa to bolster its regional market position.
Price Action: RYAAY shares are trading higher by 1.26% at $141.06 premarket on Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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