EU court rejects OHB bid to suspend European Space Agency decisions reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
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LISBON, May 25 (Reuters) - Portugal’s Economy Minister said on Tuesday last week’s ruling by Europe’s second-highest court against a 1.2-billion-euro rescue loan to TAP airline did not hinder negotiations on its restructuring plan and TAP could continue using that money.
The Luxembourg-based General Court on Wednesday upheld Ryanair’s fight against the rescue loan TAP received in 2020 from the state, with the European Commission’s blessing, on the grounds that European regulators failed to justify the huge cash injections.
“This decision that the court took for formal reasons, over a lack of adequate reasoning, does not have an immediate impact, nor does it suspend the possibility of TAP continuing to benefit from the loan,” Pedro Siza Vieira told Reuters.
Portugal says TAP can still use rescue loan despite court ruling msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
EU court annuls approval of KLM, TAP aid, wants more info
Associated Press
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FILE - In this Wednesday, Aug. 21, 2019 file photo, a Ryanair airplane approaching landing at Lisbon airport flies past the Monument to the Heroes of the Peninsular War, in the foreground. A top European Union court on Wednesday, May 19, 2021 annulled the EU s approval of 3.4 billion euros in state aid for the Dutch carrier KLM but suspended its immediate application because of the impact of the COVID-19 pandemic on the industry. In a similar ruling backing a challenge from Irish air carrier Ryanair, the court also annulled the EU s decision to back state aid to the TAP Portuguese carrier for a potential total of 1.2 billion euros, but also suspended its application pending a new EU decision. (AP Photo/Armando Franca, File) (Copyright 2019 The Associated Press. All rights reserved)
Ryanair wins court battle as EU ordered to justify airline bailouts
Wed, 19th May 2021 12:59
(Alliance News) - An EU court on Wednesday said the European Commission failed to make its case when approving the bailouts of KLM and TAP, handing a rare victory to low-cost Irish carrier Ryanair Holdings PLC.
The bloc s Luxembourg-based General Court ordered the EU regulator to redo its paperwork, and offer clearer arguments on why the bailouts conform with competition law.
The court annuls the Commission s decision to approve the Netherlands financial aid for the airline KLM amid the COVID-19 pandemic on the grounds of inadequate reasoning , a statement said.