07:16 AM EDT, 05/30/2024 (MT Newswires) -- Ryanair Holdings ( RYAOF ) lost a court battle over rival Finnair's COVID-19 bailout after the European Court of Justice upheld an earlier court ruling that the state aid did not violate regulations, Bloomberg News reported Thursday.

According to the report, the court held that the 600 million-euro ($645 million) bailout for Finnair did not constitute unfair treatment and noted that "Ryanair ( RYAOF ) has not put forward any argument capable of demonstrating that the General Court distorted the facts."

Ryanair ( RYAOF ) and Finnair did not immediately respond to MT Newswires' requests for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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