The General Court of the European Union has dismissed the action brought by the airlines Ryanair and Laudamotion to annul the European Commission’s decision of July 2020, which had considered emergency public aid (a subordinated loan of EUR 150 million convertible into a grant) granted by Austria to Austrian Airlines as compatible with EU rules on State aid in response to the Covid-19 pandemic (see EUROPE B12522A8), in a judgment handed down on Wednesday 14 July (case T-677/20).
Contrary...