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(Sharecast News) - Europe's secondhighest court has rejected Ryanair's challenge to the European Commission's approval of 2.55bn in restructuring aid granted by Portugal to flag carrier TAP.
"The General Court considers that the Commission established that TAP was eligible for restructuring aid [...] furthermore, it could not be alleged that the Commission had carried out an incomplete examination of the negative effects of the aid measure at issue," said the Luxembourg-based General Court on Wednesday.
The lowcost airline, Europe's largest by passenger numbers, has filed more than 20 lawsuits against the Commission over pandemicera state aid packages, arguing that the support gave rival carriers an unfair advantage.
As of 1000 GMT, Ryanair shares were down 0.14% at 27.95 each.
Reporting by Iain Gilbert at Sharecast.com
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