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Airbus is weighing the development of a freighter version of its wide-body A350 aircraft, the European manufacturer's chief commercial officer said Tuesday, a move that could take on rival Boeing in the air cargo market. Rates surged after the virus and travel restrictions devastated passenger travel, taking airplane belly space out of the market, creating a supply crunch. Snarls at ports have also boosted demand for air cargo. "That has somewhat exacerbated the fact that the freighter market is underserved by Airbus today," Chief Commercial Officer Christian Scherer said on a webcast briefing. Please do so on the freighter market as well.'
Persons: Charles de, Christian Scherer, Scherer Organizations: Boeing Co, Air France, KLM, Airbus, Boeing, Air, International Air Transport Association, UPS, FedEx, Atlas Air Worldwide Holdings Locations: Los Angeles , U.S, Charles de Gaulle, Roissy, France
Emirates joins airlines’ high-loss club
  + stars: | 2021-06-15 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
An Emirates plane is seen at Lisbon’s airport in Portugal, June 24, 2016. The Gulf airline, owned by the government of Dubai, on Tuesday posted a $6 billion loss for 2020. Aggressive cost-cutting by Emirates’ state backers averted a worse financial disaster. For a state-owned company, the airline’s job-cutting zeal stands out. Strong unions and Berlin’s weak hand on the Lufthansa joystick, courtesy of a 9 billion euro government bailout, mean they’re not set in stone.
Persons: Rafael Marchante, Ed Cropley Organizations: REUTERS, Rafael Marchante Emirates, Gulf airline, London, International Airlines Group, British Airways, Air France, KLM, Deutsche Lufthansa, Emirates, Staff, Lufthansa Locations: Emirates, Portugal, Dubai, Singapore
Good to Excellent A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.8 out of 5 Stars Editor's Rating Our editor's ratings are primarily based on 3 things: simplicity, affordability, and value. Good to Excellent A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.8 out of 5 Stars Editor's Rating Our editor's ratings are primarily based on 3 things: simplicity, affordability, and value. You would need to cancel your Chase Sapphire Reserve® (or downgrade it to a no-annual-fee card) before applying for a new Chase Sapphire Preferred® Card. Good to Excellent A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.8 out of 5 Stars Editor's Rating Our editor's ratings are primarily based on 3 things: simplicity, affordability, and value. Good to Excellent A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.8 out of 5 Stars Editor's Rating Our editor's ratings are primarily based on 3 things: simplicity, affordability, and value.
Persons: you've, We're, DashPass, Sapphire Preferred's, you'll, Chase, Read, that's, haven't, Dan Miller Organizations: Chase, Chevron, Aer Lingus, Air France, KLM Flying Blue British Airways Executive Club Emirates, JetBlue, Singapore Airlines, Rapid, United, Virgin Atlantic Flying, Sapphire, Chase Sapphire, Sapphire Reserve Locations: Iberia, Hyatt, Cincinnati
Crisis-hit EU airlines seek 'more balanced' passenger rights
  + stars: | 2021-06-10 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
Airlines for Europe (A4E), which represents the region's biggest carriers, said the so-called EU261 regulation had severely exacerbated the financial crisis for many airlines. "We're looking for a more balanced approach to consumer protection," Air France-KLM Chief Executive Ben Smith said, adding that the European Union's passenger rights law was "one of the most punitive" in the world. The European Commission indicated it was not ready to consider any weakening of passenger rights. "We have always tried to strike the right balance between consumer protection and the protection of the tourism and transport industry," an EU official said. "The continued and improved protection of passenger rights is crucial to ensuring the necessary consumer trust in the transport sector."
Persons: Christian, Ben Smith, Smith, Johan Lundgren Organizations: Air, Air France Airbus, Charles, REUTERS, Christian Hartmann, Airlines for, Air France, KLM, Lufthansa, Ryanair, European Commission, EU, Thomson Locations: Air France, Gaulle, Roissy, Paris, France, Airlines for Europe
A logo of Airbus is seen at the entrance of its factory in Blagnac near Toulouse, France, July 2, 2020. REUTERS/Benoit TessierAirbus (AIR.PA) and Air France-KLM (AIRF.PA) have urged policymakers to use EU-backed green stimulus funds to support aircraft sales, according to documents released on Thursday by InfluenceMap, an investor-led climate lobbying watchdog. "Support could take the form of a 'green stimulus' subsidy scheme," according to an Air France-KLM "key messages" digest dated March 26. Another BNP-led demand for climate lobbying disclosures by Delta Air Lines (DAL.N) has been endorsed by influential proxy advisers ISS and Glass Lewis ahead of next Thursday's shareholder meeting. "The idea that we have 'actively lobbied' against EU climate policies to reach these targets is false," A4E said.
Persons: Benoit Tessier Airbus, InfluenceMap, Frans Timmermans, Glass Lewis, A4E Organizations: Airbus, REUTERS, Air France, KLM, European Commission, Exxon, BNP, Airlines, Delta Air Lines, Industry, Airlines for, Lufthansa, Ryanair, SAF, EU, Thomson Locations: Blagnac, Toulouse, France, Air France, Paris, Brussels, United States, Europe, Airlines for Europe, COVID
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Persons: You'll, It's, We're, You'd, Read, Jasmin Baron Organizations: American, Citi, American Express, Card, Citi Prestige, JetBlue, Singapore Airlines, Air France, KLM, Read, Finance Locations: Chevron, U.S, Hawaii
(Reuters) -European stocks steadied near record highs on Wednesday, with investors holding off on taking big bets ahead of a policy decision from the European Central Bank and U.S. inflation reading later this week. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 8, 2021. REUTERS/Staff/File photoThe pan-European STOXX 600 index slipped 0.1% in morning trade, but stayed just short of a record high of 455.66 hit in the previous session. The wider travel and leisure index rose 0.7% as many European economies charted their way out of COVID-19 lockdowns. “Inflation is creating uncertainty about what central banks will do or say going forward,” said Emmanuel Cau, European equity strategist at Barclays.
Persons: IAG, Germany’s DAX, , Emmanuel Cau, SalMar Organizations: Reuters, European Central Bank, REUTERS, Staff, Air France KLM, Lufthansa, British Airways, U.S, CDC, Big, Rio Tinto, BHP Group, CAC, U.S . Federal, ECB, Barclays, , Danone, RBC Locations: Frankfurt, Germany, COVID, Rio, American, , Oslo
(Reuters) -European stocks remained near record highs on Wednesday, with investors holding off on taking big bets ahead of a policy decision from the European Central Bank and a U.S. inflation reading later this week. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 8, 2021. REUTERS/Staff/File photoThe pan-European STOXX 600 index closed 0.1% higher, but stayed just short of a record high of 455.66 hit in the previous session. The wider travel and leisure index rose 0.9% as many European economies charted their way out of COVID-19 lockdowns. Oslo-based salmon farmer SalMar fell 5.3% to the bottom of the STOXX 600 after it completed a private placement deal.
Persons: IAG, Germany’s DAX, , Chris Beauchamp, Emmanuel Cau, SalMar Organizations: Reuters, European Central Bank, REUTERS, Staff, Air France KLM, Lufthansa, British Airways, U.S . Centers for Disease Control, Prevention, Big, Rio Tinto, BHP Group, CAC, IG, U.S, U.S . Federal, ECB, Barclays, , Danone, RBC Locations: U.S, Frankfurt, Germany, COVID, Rio, American, U.S ., , Oslo
European shares linger near record levels, airlines rise
  + stars: | 2021-06-09 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)June 9 (Reuters) - European stocks held steady near all-time highs, with investors holding off on taking big bets ahead of a policy decision from the European Central Bank and U.S. inflation reading later this week. The pan-European STOXX 600 index was flat in early trading, just short of a record high of 455.66 hit in the previous session. Airlines, including Air France KLM, Lufthansa and British Airways-owner IAG, rose more than 1% after the U.S. CDC said it was easing travel recommendations on 110 countries and territories. Spanish retail giant Inditex rose 1.3% after reporting a first-quarter net profit of 421 million euros ($513 million) that easily beat analysts’ expectations. French food group Danone slipped 1.5% after RBC downgraded the stock to “under perform”.
Persons: IAG, Sruthi Shankar, Sriraj Kalluvila Organizations: European Central Bank, Airlines, Air France KLM, Lufthansa, British Airways, U.S, CDC, Danone, RBC Locations: Bengaluru
Stocks hover near highs as bond yields dip
  + stars: | 2021-06-09 | by ( Herbert Lash | Tom Arnold | ) www.reuters.com + 0.00   time to read: +4 min
NEW YORK/LONDON (Reuters) - World stocks hovered near record highs and U.S. bond yields fell on Wednesday as some of U.S. President Joe Biden’s stimulus efforts appeared to be on the rocks, boosting the appeal of technology stocks as inflation pressures ease. The yield on benchmark 10-year U.S. Treasury notes fell 3.7 basis points to 1.4908%, down from 1.528% late on Tuesday. MSCI’s all-country world index, a U.S.-centric benchmark for global equity markets, fell 0.06% to 716.53, down a little more than 1 point from a record peak on Tuesday. The pan-regional STOXX Europe 600 index rose 0.1% to a new record close, but shy of all-time peak on Tuesday. CURRENCIES STEADYInflation data from China showed its producer price index jumped 9.0% from a year earlier, the highest in over 12 years, on surging commodity prices.
Persons: Joe, Brendan McDermid, Elizabeth MacDonough, Sebastien Galy, Joe LaVorgna, , Biden, ” LaVorgna, MSCI’s, Dennis Dick, ” Dick, Britain’s, IAG Organizations: New York Stock Exchange, REUTERS, Senate, Democratic, Nordea Asset Management, Treasury, Dow Jones, Nasdaq, Bright Trading, Apple, GameStop, European Central Bank, Britain’s FTSE, Air France KLM, Lufthansa, British Airways, U.S . Centers for Disease Control, Prevention, Nikkei, Thursday’s, U.S, Deutsche, Brent Locations: U.S, New York City, Treasuries, Natixis, Europe, Asia, Pacific, Japan, Thursday’s U.S, China, Beijing
Good to Excellent A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.8 out of 5 Stars Editor's Rating Our editor's ratings are primarily based on 3 things: simplicity, affordability, and value. Good to Excellent A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.8 out of 5 Stars Editor's Rating Our editor's ratings are primarily based on 3 things: simplicity, affordability, and value. Credit cards that earn transferable Chase Ultimate Rewards pointsRead more: Preferred versus Reserve: How to decide which Chase Sapphire credit card is right for youAdditionally, some cash-back credit cards like the Chase Freedom Flex℠ and Chase Freedom Unlimited earn rewards in the form of Chase Ultimate Rewards points. How to use Chase Ultimate Rewards pointsIf you're considering a Chase credit card that earns Chase Ultimate Rewards points but want to make sure you'll be able to utilize your points, it helps to know all your options ahead of time. Read more: I'm so convinced Chase Ultimate Rewards is a great deal that I have 4 credit cards just to take advantageBook hotels through the Chase Ultimate Rewards portalWhile the Chase Ultimate Rewards program partners with IHG Rewards, Marriott Bonvoy, and World of Hyatt, it's important to price shop awards before you transfer Chase points to these programs.
Persons: Chase, We're, DashPass, Read, you'll, That's, Holly Johnson Organizations: American, Chase, Sapphire Reserve, Business, Chevron, Sapphire, Chase Freedom, Ink, Apple, Chase Sapphire Reserve, Chase Sapphire, United Airlines, Star Alliance, Air Canada, Lufthansa, Singapore Airlines, British Airways, Oneworld, American Airlines, Cathay, Air France, KLM, Blue, Korean, Sundance Film, TAP Air Portugal, Southwest Airlines, IHG, Bonvoy, Hyatt, Marriott Locations: Chase, Air, Delta, Milan, Italy, Europe, Caribbean, Mexico, Amsterdam, Paris, Singapore, West Coast, Hawaii, IHG.com, Florence, Grand Cayman, Bora Bora, Greece
Air France cancels flights as Russia withholds clearance
  + stars: | 2021-05-31 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
An Air France Airbus A350 airplane lands at the Charles-de-Gaulle airport in Roissy, near Paris, France April 2, 2021. REUTERS/Christian Hartmann/File PhotoAir France (AIRF.PA) cancelled two more flights to Moscow on Monday after Russian authorities failed to approve flight plans that avoid Belarus airspace. The French airline, part of the broader Air France-KLM group, was forced to cancel two Paris-Moscow flights last week after receiving no Russian clearance for flight plans skirting the territory. Obstacles to rerouted Air France flights appeared to have been resolved late last week, allowing Air France to carry out two weekend Paris-Moscow services. read moreBut the latest setbacks occurred after Air France resubmitted routes avoiding Belarus for approval as part of a seasonal renewal process, an Air France spokesman said.
Persons: Christian Hartmann, Charles de Gaulle Organizations: Air, Air France Airbus, Charles, REUTERS, European, Ryanair, Air France, KLM, Thomson Locations: Air France, Gaulle, Roissy, Paris, France, Moscow, Belarus, Lithuania, Greece, Russia, Europe
Russia approves new route for Air France flights to Moscow
  + stars: | 2021-05-29 | by ( ) www.reuters.com sentiment -0.93   time to read: +1 min
An Air France Airbus A350 airplane lands at the Charles-de-Gaulle airport in Roissy, near Paris, France April 2, 2021. REUTERS/Christian HartmannRussia has approved a new route for Air France (AIRF.PA) flights between Paris and Moscow avoiding Belarusian airspace, initially just for this weekend, a spokesman for the French airline said on Saturday. We have authorizations for this weekend and are awaiting a green light from Russian authorities for our flights after this weekend," the Air France spokesman said. Air France, which is part of the wider Air France-KLM group, operates one or two flights a day between Paris and Moscow. Our Standards: The Thomson Reuters Trust Principles.
Persons: Christian Hartmann Russia Organizations: Air, Air France Airbus, Charles, REUTERS, Air France, European Union Aviation Safety Agency, Ryanair, KLM, Thomson Locations: Air France, Gaulle, Roissy, Paris, France, Moscow, Minsk, Lithuania, Greece, Air
(OFFICIAL) UPDATE 2 Russia approves Air France, Lufthansa routes avoiding Belarus
  + stars: | 2021-05-29 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
An Air France Airbus A350 airplane lands at the Charles-de-Gaulle airport in Roissy, near Paris, France April 2, 2021. REUTERS/Christian HartmannAir France (AIRF.PA) and Lufthansa (LHAG.DE) have received approval from Russia for flight routes to the country that avoid Belarusian airspace, the airlines said on Saturday. Air France, part of the Air France-KLM group, operates one or two flights a day between Paris and Moscow. A spokeswoman for Lufthansa, Germany's biggest airline, said it had been given approval for the new routes on its flights from Frankfurt to Moscow and St Petersburg for the foreseeable future. Lufthansa currently operates seven return flights from Frankfurt to Moscow and three return flights from Frankfurt to St Petersburg per week.
Organizations: Air, Air France Airbus, Charles, REUTERS, Christian Hartmann Air France, Lufthansa, European Union Aviation Safety Agency, Ryanair, Air France, KLM, Germany's, St, Thomson Locations: Air France, Gaulle, Roissy, Paris, France, Russia, Minsk, Lithuania, Greece, Moscow, Frankfurt, St Petersburg
Belarus airline scraps flights amid EU freeze-out
  + stars: | 2021-05-27 | by ( Gleb Stolyarov | Laurence Frost | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Valentyn OgirenkoThe tightening restrictions on Belarus came as its main ally Russia denied access to a second European carrier seeking to skirt Belarus en route to Moscow. Belavia flights were still crossing Italy and Hungary on Thursday and serving EU destinations including Larnaca in Cyprus and Tallinn in Estonia, according to FlightRadar24 data. “Belavia flights will not be accepted in Estonian airports, official decision later today,” Estonian Prime Minister Kaja Kallas tweeted. Other Air France-KLM and Lufthansa flights continue to cross Russian airspace and serve destinations in the country unimpeded, both airline groups said. Lufthansa has successfully rerouted Frankfurt-Moscow flights around Belarus.
Persons: Roman Protasevich, Belavia, , ” Belavia, Kaja Kallas, Alexander Lukashenko’s, Organizations: Belavia, Belarusian Airlines, Boryspil, REUTERS, European Union, Ryanair, Russia, Austrian Airlines, Air, Air France Paris, Lufthansa, Air France, KLM Locations: MOSCOW, PARIS, Belarusian, Minsk, Ukraine, Belarus, Kyiv, Russia, Moscow, Poland, Amsterdam, Barcelona, Berlin, Brussels, Frankfurt, Hanover, Kaliningrad, Milan, Munich, Rome, Vienna, Warsaw, Lithuania, Greece, Britain, Czech Republic, Finland, France, Latvia, Sweden, Italy, Hungary, Larnaca, Cyprus, Tallinn, Estonia, Estonian, Europe, Asia, Austrian Airlines Vienna, Air France, Austrian, , European
Air France cancels Moscow flight as Russia snubs Belarus bypass
  + stars: | 2021-05-26 | by ( ) www.cnbc.com sentiment -1.00   time to read: +1 min
The first Air France Airbus A350 prepares to take off after a ceremony at the aircraft builder's headquarters in Colomiers near Toulouse, France, September 27, 2019. Air France canceled a Paris-Moscow flight on Wednesday after Russia failed to approve a new route bypassing Belarus, the airline said. Air France, which operates several weekly services to Moscow, said it still planned to run its next scheduled Moscow flight on Friday, subject to Russian approval of a flight plan that would allow it to avoid overflying Belarus. "Air France regrets any inconvenience caused by this situation." But France is among countries taking a tough line over a Belarus warplane intercepting the Ryanair flight, including the suspension of Belarusian national carrier Belavia's operating rights.
Persons: Paris Charles de Gaulle Organizations: Air France Airbus, Air, Russia, Air France, KLM, European, Ryanair, overflying, Passengers, Paris Charles Locations: Colomiers, Toulouse, France, Air France, Paris, Moscow, Belarus, Air, Minsk, Lithuania, Greece, overflying Belarus, Russia, Petersburg, Barcelona, Poland
British Prime Minister Boris Johnson said the video made for distressing viewing and exiled opposition leader Sviatlana Tsikhanouskaya said that the video left no doubt that Protasevich had been tortured. Belarusian state media have reported that President Alexander Lukashenko personally ordered the flight to be intercepted. Belarusian state TV on Monday broadcast interviews with the trio. Lufthansa, KLM, SAS, Air France, LOT and Singapore Airlines were among carriers that announced they would stop flying over Belarus. Moscow has also denied suggestions by Western politicians that it may have assisted its ally Belarus in the operation.
Persons: Protasevich, Boris Johnson, Sviatlana Tsikhanouskaya, Jens Stoltenberg, Alexander Lukashenko, Dmytro Kuleba, Lukashenko, Edward Snowden Organizations: Vilnius Airport, REUTERS, Andrius Sytas Airlines, British, Ryanair, NATO, ICAO, Protasevich, Lithuanian, Reuters, TV, Union, Lufthansa, KLM, SAS, Air, Singapore Airlines, EU, Belarus, Police, Thomson Locations: Vilnius, Lithuania, Europe, Russia, Belarusian, Minsk, Lithuanian, Belarus, Greece, Asia, Air France, Ukrainian, United States, Bolivian, Austria, Moscow
Belarus plays airspace poker with a weak hand
  + stars: | 2021-05-25 | by ( Ed Cropley | George Hay | ) www.reuters.com + 0.00   time to read: +4 min
In using military pressure to force a Ryanair commercial flight to land in Minsk so he could arrest a journalist, the Belarus president is not the first leader to weaponise his country’s national airspace. Countries are incentivised to play nicely because they can make hundreds of millions of dollars a year by charging airlines to use their airspace. Belarus’s close ally Russia, the world’s biggest country by land mass, is best suited to taking a tough stance. Airlines like Germany’s Lufthansa, the Netherlands’ KLM and Singapore Airlines (SIAL.SI) have said they will avoid Belarus airspace. It confirms that, to play airspace poker, countries need to be big or rich, and preferably both.
Persons: Roman Protasevich, Alexander Lukashenko, weaponise, Evo Morales, Edward Snowden, Grant Shapps Organizations: Ryanair, Vilnius Airport, European Union, Qatar Airways, Airlines, Germany’s Lufthansa, Netherlands ’ KLM, Singapore Airlines, Reuters, European Organisation, Safety, Air Navigation, Belavia, Bolivian, KLM, Air France, Union, International Civil Aviation Organization, Lufthansa, Belavia’s Locations: Belarus, Vilnius, Lithuania, Minsk, Russia, Europe, Hong Kong, Japan, Siberia, Crimea, Moscow, Saudi, Qatar, Riyadh, Netherlands, United States, Austria, Brussels, Greece
More airlines responded on Tuesday to the brazen decision over the weekend by Belarus’s president to force a commercial flight to land in an effort to arrest a dissident journalist. Fallout was swift as the country’s strongman president, Aleksandr G. Lukashenko, drew reprimands and flight bans from countries and airlines around the world. Here’s the latest response from airlines on Tuesday:Air France and KLM later said they too would suspend flights going through Belarus airspace, Reuters reported. Though not a major European hub, Belarus’s capital, Minsk, is served by several international airlines, including Lufthansa, Austrian Airlines and Turkish Airlines. U.S. airlines like American Airlines, Delta Air Lines and United Airlines offer flights to Minsk through partnerships with European carriers and Belavia, the Belarusian airline.
Persons: Aleksandr G, Lukashenko, Finnair, ” Tal Muscal Organizations: European Union, Air France, KLM, Reuters, Finnish, Twitter, Lufthansa, Austrian Airlines, Turkish Airlines, Turkish Airlines . U.S, American Airlines, Delta Air Lines, United Airlines Locations: Belarus, Britain, Western Europe, European, Minsk, Turkish Airlines ., Belarusian
EU air traffic agency eyes Baltic routes for flights shunning Belarus
  + stars: | 2021-05-25 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
The logo of Eurocontrol, Europe's air traffic regulator, is seen on the facade of its headquarters in Brussels July 18, 2014. REUTERS/Francois LenoirEuropean air traffic control agency Eurocontrol said on Tuesday approximately 100 flights by EU and British carriers fly over Belarus every day and it would be best for those re-routing to cross over the Baltic states instead. Lufthansa, KLM, SAS, Air France, LOT and Singapore Airlines were among carriers that announced they would stop flying over Belarus. "The most efficient routes for the majority of carriers overflying Belarus will be to re-route through the Baltic States," Eurocontrol said. Some 20 EU airports from Larnaca to Helsinki that have Belavia flights to or from Belarus would also be affected.
Persons: Francois Lenoir, Eurocontrol Organizations: REUTERS, EU, Ryanair, Lufthansa, KLM, SAS, Air, Singapore Airlines, Airlines, Reuters, Thomson Locations: Brussels, British, Belarus, Baltic, Minsk, Air France, Baltic States, Larnaca, Helsinki
Ryanair hails EU court state-aid ruling as 'important victory'
  + stars: | 2021-05-19 | by ( Reuters Staff | ) www.reuters.com + 1.00   time to read: 1 min
DUBLIN, May 19 (Reuters) - Ryanair on Wednesday welcomed a decision by Europe’s second-highest court to uphold a challenge to the billions of euros in state aid granted to its rivals KLM and TAP as “an important victory for consumers and competition.”“The European Commission’s approvals of state aid to Air France-KLM and TAP went against the fundamental principles of EU law and reversed the clock on the process of liberalisation in air transport by rewarding inefficiency and encouraging unfair competition,” the statement said. It said it would appeal the dismissal of a third challenge, to a Spanish fund for virus-hit companies. (Reporting by Conor Humphries, editing by Louise Heavens)
Persons: Europe’s, , Conor Humphries, Louise Heavens Organizations: DUBLIN, Ryanair, Wednesday, KLM, TAP, Air France Locations: Spanish
Rare wins for Ryanair in EU court ruling on aid for KLM, TAP
  + stars: | 2021-05-19 | by ( Foo Yun Chee | ) www.reuters.com sentiment -0.99   time to read: +2 min
BRUSSELS (Reuters) -Ryanair won two victories in its fight against billions of euros in state aid granted to rivals as Europe’s second-highest court annulled EU-approved schemes for KLM and Portugal’s TAP. “The General 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,” the Court said. Judges also rejected the EU executive’s clearance of state aid for Portuguese carrier TAP, citing “an inadequate statement of reasons” by the Commission. The EU competition enforcer last year cleared a 3.4-billion-euro ($4.15 billion) Dutch bailout for airline KLM and a 1.2 billion euro rescue loan for Transportes Aereos Portugueses (TAP). The cases are T-465/20 Ryanair v Commission, T-643/20 Ryanair v Commission and T-628/20 Ryanair v Commission.
Persons: Paul Hanna Organizations: Ryanair, EU, KLM, Portugal’s TAP, Ryanair Boeing, Palma de Mallorca, REUTERS, Commission, Portuguese, TAP, Transportes Aereos, Air France, European Commission, SAS, Lufthansa, Austrian Airlines Locations: BRUSSELS, Palma de, Spain, Luxembourg, Netherlands
Ryanair gets rare wins in EU court over state aid for KLM, TAP
  + stars: | 2021-05-19 | by ( Foo Yun Chee | ) www.reuters.com + 0.00   time to read: +3 min
“The General 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,” the Court said on Wednesday. Judges also rejected the EU executive’s clearance of state aid for Portuguese carrier TAP, citing “an inadequate statement of reasons” by the Commission. The EU competition enforcer last year cleared a 3.4-billion-euro ($4.15 billion) Dutch bailout for airline KLM and a 1.2 billion euro rescue loan for Transportes Aereos Portugueses (TAP). “Given the crisis that hit the aviation sector around the world, it was unthinkable for the European Commission not to lift restrictions on state aid,” he said. The cases are T-465/20 Ryanair v Commission, T-643/20 Ryanair v Commission, T-628/20 Ryanair v Commission and T-218/18 Deutsche Lufthansa v Commission.
Persons: Paul Hanna, Judges, Antonio Costa, Organizations: Ryanair, KLM, Portugal’s TAP, Ryanair Boeing, Palma de Mallorca, REUTERS, Commission, EU, Portuguese, TAP, Transportes Aereos, Air France, Reuters, Portugal’s, European Commission, Court, SAS, Lufthansa, Austrian Airlines, Deutsche Lufthansa Locations: BRUSSELS, Palma de, Spain, Luxembourg, Netherlands, Air France, Frankfurt Hahn
EU court backs Ryanair challenge to KLM, TAP state aid
  + stars: | 2021-05-19 | by ( ) www.cnbc.com sentiment -1.00   time to read: +1 min
Ryanair planes are seen at Dublin Airport, following the outbreak of the coronavirus disease (COVID-19), Dublin, Ireland. Europe's second-highest court on Wednesday upheld Ryanair's fight against billions of euros in state aid granted to its rivals KLM and TAP but dismissed its challenge to a 10-billion-euro ($12.2 billion) Spanish fund for virus-hit companies. Judges also annulled the EU executive's clearance of state aid for Portuguese carrier TAP, citing "an inadequate statement of reasons" by the Commission. The court said the annulments and recovery of the state aid would be suspended pending new decisions by the Commission. The cases are T-465/20 Ryanair v Commission, T-643/20 Ryanair v Commission and T-628/20 Ryanair v Commission.
Persons: Europe's, Ryanair's, annuls Organizations: Ryanair, Dublin Airport, KLM, TAP, Portuguese, Commission Locations: Dublin, Ireland, Netherlands, Luxembourg
Capital Calls: Ryanair’s legal win lacks victory lap
  + stars: | 2021-05-19 | by ( ) www.reuters.com sentiment -0.98   time to read: +1 min
-----------------------------------------------LEGAL AID. Ryanair (RYA.I) has scored half a legal victory over state aid to its rivals. Europe’s second-highest court ruled on Wednesday that the European Commission was wrong to approve a 3.4 billion euro Dutch government bailout for KLM and a similar 1.2 billion euro Portuguese package for local carrier TAP read more . The same is true of the court’s recognition that unwinding the Dutch aid would have “particularly damaging consequences” for the Netherlands’ economy. Ryanair’s consolation prize is knowing that its lawyers probably helped keep the bailouts within the bounds of acceptability.
Persons: Europe’s, Ed Cropley Organizations: Ryanair, Luton Airport, European Commission, KLM, TAP, U.S Locations: Britain, Netherlands
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