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Brussels re-approves €525mn German state aid to Condor

The European Commission has re-approved Germany’s EUR525.3 million (USD620 million) bailout of Condor (DE, Frankfurt Int'l), after the European General Court rejected an earlier approval following a challenge from Ryanair (FR, Dublin Int'l).

The measures would enable Berlin to compensate the charter carrier for losses directly suffered as a result of travel restrictions imposed due to the COVID-19 pandemic, EC Executive Vice-President, Margrethe Vestager, said in a statement.

The Commission’s new approval comes after Ryanair won an annulment at the European Unions’ General Court of an earlier EC decision. Under its terms, the Commission had approved compensation to Condor for the period March 17 to December 31, 2020, in the form of two loans, with a nominal amount of EUR550 million (USD648.6 million) and an aid amount of EUR267.1 million (USD314.9 million), based on estimates of damages. The new decision was based on the actual damages suffered. Condor would repay anything received in excess of the actual amount, plus interest.

The Irish low-cost carrier has also sought to undo bailouts of Lufthansa...

Court rules against Ryanair in Austrian Airlines aid case

The Luxembourg-based European General Court has dismissed a complaint Ryanair (FR, Dublin Int'l) brought against the European Commission’s approval of state aid last year for Lufthansa Group subsidiary Austrian Airlines (OS, Vienna).

Ryanair and its own Austrian subsidiary at the time, Lauda (now Lauda Europe), sued against the Austrian government’s assistance of EUR150 million euros (USD178 million) to the flag carrier. The aid was meant as compensation for the damage caused to Austrian Airlines' finances during the Covid-19 pandemic.

The sum was part of a total financing package worth EUR600 million (USD709 million) that also included an equity grant of EUR150 million from Lufthansa and a state-guaranteed bank loan of EUR300 million (USD354 million).

“The General Court confirms that the aid granted by Austria to Austrian Airlines in order to compensate it for the damage resulting from the cancellation or rescheduling of its flights due to the Covid-19 pandemic is compatible with the internal market,” the court said in its July 14 ruling.

The court agreed with the...