Court annuls approval for Air France COVID-19 state aid
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.
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The case is one of many brought by Ryanair (RYA.I), Europe’s largest budget airline, against state aid granted to airlines throughout Europe to help them survive the pandemic.
In a statement, Ryanair welcomed the ruling: “The Court’s intervention is a triumph for fair competition and consumers across the EU.”
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