Europe's top court rules against Lufthansa's €6b Covid-era bailout approval
LUXEMBOURG, April 23 -- The European Court of Justice has sided with rival airlines in a dispute over state aid to Lufthansa, confirming the annulment of a €6 billion (US$7 billion; RM27.82 billion) recapitalisation granted during the Covid-19 crisis, reported German Press Agency (dpa).
The European Court of Justice (ECJ) on Thursday confirmed a 2023 ruling by a lower chamber, the General Court, that the European Commission was wrong to approve the financial aid, as the methods used to determine the share price were not in line with EU rules.
Lufthansa's competitors Ryanair and Condor had sued against the commission's approval.
In 2020, months after the start of the Covid-19 pandemic, the German government awarded the state aid t...
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