Ryanair vows to appeal against Lufthansa aid package
Reuters
Published May 26, 2020 06:37
DUBLIN/PARIS (Reuters) - Ryanair (I:RYA) will contest a 9 billion-euro ($9.9 billion) German aid package for Lufthansa, the budget airline's Chief Executive Michael O'Leary said in a statement on Tuesday.
The government-backed aid will allow Lufthansa (DE:LHAG) to "engage in below-cost selling" and make it harder for Ryanair, its Laudamotion subsidiary and rival low-cost carrier easyJet (L:EZJ) to compete, O'Leary said.
"Ryanair will appeal against this latest example of illegal state aid to Lufthansa, which will massively distort competition," he added in the statement.
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Written By: Reuters
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