European Commission to Broaden Ryanair Spanish State Aid Investigation
February 17 2020 - 11:30AM
Dow Jones News
By Anthony O. Goriainoff
The European Commission said Monday that it would broaden the
scope of its continuing state aid investigation into marketing
agreements made between Spain's public authorities and Ryanair
Holdings PLC.
The regulator said this involved certain Spanish public entities
and a number of airlines, including Ryanair, using the airports in
Girona and Reus.
The Commission said it opened an in-depth investigation in 2013,
assessing whether marketing arrangements between some Spanish
public authorities and airlines operating at these airports were in
line with EU state-aid rules, following a complaint.
Spain confirmed the existence of additional marketing agreements
after the investigation was opened, the Commission said.
It said that Ryanair and other airlines received payments in the
form of "marketing incentives" since 2004 through these marketing
agreements, as well as others also under investigation.
The Commission's preliminary view is that the marketing support
granted to Ryanair may constitute state aid under the Treaty on the
Functioning of the European Union.
Ryanair said in a statement that all of its airport arrangements
"comply fully with State aid rules."
Ryanair shares at 1555 GMT were down 19 Euro cents ($0.21), or
1.26%, at EUR15.34.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
February 17, 2020 11:15 ET (16:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Ryanair (NASDAQ:RYAAY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ryanair (NASDAQ:RYAAY)
Historical Stock Chart
From Apr 2023 to Apr 2024