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Stock impact report

Michael O'Leary blasts ‘ancient 1960s law' as Spain slaps Ryanair with €108 million fine over ‘abusive' baggage and seating charges [Yahoo! Finance]

EASYJET PLC S/ADR (ESYJY) 
NASDAQ:AMEX Investor Relations: corporate.easyjet.com/investors.aspx
Company Research Source: Yahoo! Finance
Spain's consumer rights ministry announced on Thursday that Ryanair had been slapped with a nine-figure penalty for its seating and baggage practices, having rejected a previous appeal. Competitor budget airlines EasyJet and Vueling received respective fines of €29 million and €39 million. In total, European airlines face a €179 million fine from the Spanish ministry, with Norwegian and Volotea facing smaller fines. Ryanair and other low-cost airlines charge customers extra to take additional baggage on board and to select a seat, or risk being placed away from their travel companion. In a statement shared with Fortune , Ryanair said it had instructed its lawyers to immediately appeal what it called the “unlawful and baseless” fines. “These illegal and baseless fines, [which] have been invented by Spain's Consumer Affairs Ministry for political reasons, are clearly in breach of EU law,” O'Leary said. The ministry first announced a fine in May following a 2023 investigation Show less Read more
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