Ryanair Makes Concession In State Aid Row
Ryanair chief executive Michael O'Leary announced last week that the firm will
place EUR4 million in disputed state aid subsidies paid to it by the Walloon
regional authorities for flying to Belgium's Charleroi airport into an escrow
account, pending the delivery of a verdict in its appeal against the European
Commission on the matter. Although Mr O'Leary has been outspoken in his rejection of the EC's verdict
that the payments constituted illegal state aid, the Walloon authorities have
been tasked with trying to recover the cash. The airline announced last week that it had no desire to place the regional
government "in a difficult position because of a legally flawed decision
by the Commission", and agreed "under protest and without prejudice
to the outcome of the appeal" to put the amount in question to one side. "If Ryanair is successful in its appeal, these funds along with interest
will be returned to Ryanair. If the appeal fails, Ryanair will agree that these
funds will be transferred in their entirety to the Region," it explained. .
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