European Commission to Broaden Ryanair Spanish State Aid Investigation

Date : 02/17/2020 @ 4:30PM
Source : Dow Jones News
Stock : Ryanair Holdings PLC (RYAAY)
Quote : 59.68  0.0 (0.00%) @ 11:06AM

European Commission to Broaden Ryanair Spanish State Aid Investigation

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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.

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