Ryanair has blasted a €4bn bailout package that will leave the French government as the biggest shareholder in Air France-KLM, saying it will damage competition in the air transport market for decades.
Eighteen slots at Paris Orly airport that Air France must give up as a condition of the deal “is nowhere near enough” to allow others challenge the French airline’s dominance of Paris, Ryanair said.
The French government will contribute to a €4bn recapitalisation of Air France-KLM and more than double its stake to nearly 30pc, under plans announced yesterday with European Union approval.
The move is the latest by a major airline group to shore up finances after more than a year of Covid-19 travel shutdowns and deep losses for the sector.
In a statement, Ryanair said: “This latest tranche of state aid to Air France combined with these ineffective remedies will damage competition in the air transport market for decades to come.”