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2024-04-15 19:48
Italy's top antitrust regulator is reportedly investigating if Ryanair Holdings (NASDAQ:RYAAY) acted in a way that caused "serious and irreparable" damages to other travel agencies, other airlines, and passengers.
The Competition Authority claimed Ireland-based Ryanair (RYAAY) did not allow physical or online tour operators to access its offers and discounts on its website on at least several occasions. An official announcement on the investigation is expected to be made by the regulator later on Monday.
Ryanair (RYAAY) is currently the largest airline in Italy. The company includes the subsidiaries Ryanair DAC, Malta Air, Buzz, Lauda Europe, and Ryanair UK. The carrier could increase its market share in Italy if Lufthansa (OTCQX:DLAKF) is required to give up landing and takeoff slots as part of a deal to acquire Italy’s state-owned ITA Airways. Last week, Ryanair (RYAAY) slammed the Competition Authority for not taking action against online travel agencies that were said to be overcharging consumers.
Shares of Ryanair (RYAAY) traded 1.77% higher in Dublin on Monday.