Ryanair denies illegal subsidy deal with Azores government
Ryanair denied claims of receiving covert subsidies through promotion contracts. This follows Portuguese police searches into alleged fraud and power abuse.
Ryanair Holdings plc has denied allegations that it received illegal subsidies from the regional government of the Azores in Portugal. The denial follows a series of police searches conducted on Tuesday across public entities and law firms in both the archipelago and Lisbon as part of a probe into potential financial irregularities. Investigators are examining whether the Azores struck an agreement with the airline that favored it through the improper awarding of contracts to promote the region abroad. Authorities suggest these contracts may have served as a covert subsidy to offset airport fees paid by the carrier.
