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German carriers win right to challenge Ryanair over subsidies

Germany's two largest carriers airberlin and Lufthansa have been given the all-clear to pursue legal action against Ryanair. Shares in airberlin finished the day 1.7% higher, while Ryanair shares were up 1.4%.

Germany's Federal Court of Justice awarded the German carriers the right to pursue legal action over subsidies received by Ryanair. The two German airlines allege that the subsidies came in the form of lower airport charges at Frankfurt Hahn and Hamburg Lubeck airports. The European Commission is also currently investigating allegations the Irish LCC enjoys subsidies at other German airports. Ryanair maintains it never sought or accepted state aid.

Selected PEA daily share price movements (% change): 15-Feb-2011