Overview
- The Court of Justice of the EU, which ruled on Thursday, dismissed Lufthansa’s appeal and confirmed the annulment of the Commission’s approval for the 2020 bailout.
- Judges found a fault in how part of the state’s “silent participation” could convert into shares, breaking COVID aid rules that set a reference price for such conversions.
- The court said Lufthansa prevailed on most other issues, yet one error was enough to void the approval under an all-or-none approach.
- The European Commission has run a probe since 2024 and will now decide on next steps, with Lufthansa saying it will cooperate in the process.
- Rivals Ryanair and Condor led the challenge, and Ryanair called for recovery of about €200 million in benefits from aid that totaled €6 billion in equity and hybrid capital.