Low cost carrier Ryanair has agreed to pay 4m into an escrow account until its appeal over an EC ruling that it received “illegal” aid from Charleroi Airport in Belgium is heard.
The EC made its ruling last February but Ryanair's chief executive Michael O'Leary refused to pay up and took the matter to the European Court of First Instance.
The 4m will now be held in an independent account until this court makes its ruling.
In a statement, Ryanair insisted that there was “no requirement” for repayment, saying that its costs in setting up at Charleroi “vastly exceeded any discounts received from the Walloon region” to whom the money would have to be paid.
But it added: “Ryanair recognises that it is not the Walloon region that is pushing this issue and we have no desire to place the region in a difficult position because of a legally flawed decision by the Commission.”
It said the money would be deposited under protest and without prejudice.
The carrier's head of communications, Paul Fitzsimmons said: “Ryanair is confident that the unlawful decision of the European Commission will be overturned by the European Court and that the court will promote the enormously successful partnership between low fares airlines and regional airports.”