European court rules rescue of Spain’s Air Europa was legal
The General Court of the European Union has ruled that the EUR475m in Spanish government loans handed to Air Europa last year was legal, rejecting a case Ryanair had brought against the EC, which approved the aid. The state funds, which Madrid approved in October 2020 and which were provided through the sovereign wealth fund, were part of a E10b fund in Spain for pandemic-hit companies that the EC greenlit last July. In its May 19 ruling, which can still be appealed at Court of Justice of the European Union, the general court said that the measure complied with EU law and had been “proportionate and non-discriminatory”. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-05-21/unaligned/european-court-rules-rescue-of-spain2019s-air-europa-was-legal
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European court rules rescue of Spain’s Air Europa was legal
The General Court of the European Union has ruled that the EUR475m in Spanish government loans handed to Air Europa last year was legal, rejecting a case Ryanair had brought against the EC, which approved the aid. The state funds, which Madrid approved in October 2020 and which were provided through the sovereign wealth fund, were part of a E10b fund in Spain for pandemic-hit companies that the EC greenlit last July. In its May 19 ruling, which can still be appealed at Court of Justice of the European Union, the general court said that the measure complied with EU law and had been “proportionate and non-discriminatory”. <br/>
