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EU competition daily: General Court backs Commission’s TAP COVID-19 rescue aid; merger clearances (EQT/OEM; Climater/ICG) and FSR filing (Banco BPM/Anima)—5 Feb 2025

Published on: 05 February 2025

Published by a LexisNexis Competition expert
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Article summary

State aid General Court dismisses Ryanair’s action against Commission’s readopted decision approving rescue aid to TAP SGPS in the context of the COVID-19 pandemic

The General Court has handed down its judgment in Case T-743/21, Ryanair v Commission (TAP II; aide au sauvetage; COVID-19), which concerned a challenge to the Commission’s readopted decision of 16 July 2021 approving rescue aid for Transportes Aéreos Portugueses SGPS (TAP SGPS) (SA.57369) (the Commission’s readopted 2021 decision). The Court dismissed Ryanair’s action, thereby upholding that readopted decision...

Background

In 2020, Portugal notified the Commission of an aid measure for TAP SGPS, set up either as a State loan or as a combination of a loan with a State guarantee, with a maximum amount of €1.2bn. The measure aimed to keep TAP, the parent company and 100% shareholder of Transportes Aéreos Portugueses SA (TAP), operating for six months, between July and December 2020. It concerned a loan agreement concluded with Portugal as lender, TAP Air Portugal as borrower, and TAP as guarantor...

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