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Ryanair overturns EU clearance of Portugal's Covid-19 aid to TAP

( May 19, 2021, 09:34 GMT | Official Statement) -- MLex Summary: The EU's first-tier court today annulled a European Commission decision to approve Portugal's 1.2 billion-euro loan to airline TAP, finding the EU competition watchdog “failed to state the reasons.” But the effects of today's annulment, including the recovery of the aid, are suspended, the General Court said, pending the adoption of a new decision by the European Commission. The ruling follows a legal challenge brought by budget airline Ryanair.Statement follows. The ruling is attached. Case reference is T-465/20....

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