{"id":14996,"date":"2023-09-21T06:47:22","date_gmt":"2023-09-21T06:47:22","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/stocks\/facing-fares-row-ryanair-hit-by-new-antitrust-probe-in-italy\/"},"modified":"2023-09-21T06:47:23","modified_gmt":"2023-09-21T06:47:23","slug":"facing-fares-row-ryanair-hit-by-new-antitrust-probe-in-italy","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=14996","title":{"rendered":"Facing fares row, Ryanair hit by new antitrust probe in Italy"},"content":{"rendered":"
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\u00a9 Reuters. A Ryanair plane is seen on the runway, after landing at Athens’ International Eleftherios Venizelos airport, following a bomb threat in midair, on the outskirts of Athens, Greece, January 22, 2023. REUTERS\/Alkis Konstantinidis\/File photo<\/span>
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ROME (Reuters) -Italy’s antitrust agency opened an investigation on Wednesday into low-cost carrier Ryanair “for possible abuse of a dominant (market) position”, the latest regulatory challenge in Italy for Europe’s largest airline.<\/p>\n

Ryanair, which has expanded to become the largest carrier in Italy, is already in a dispute with the Italian government which is trying to hold down the price of domestic flights to its main islands at peak times.<\/p>\n

Ryanair said on Wednesday that internal Italian flights to Sicily would be cut by 10% in its latest winter schedule, blaming the government’s planned price cap.<\/p>\n

Heralding a new regulatory battle, the Italian competition authority said it suspected the carrier of exploiting a dominant position “to extend its power” in other sectors such as hotels and car rentals, to the detriment of travel agencies. <\/p>\n

Ryanair allegedly limits travel agencies’ ability to buy tickets from its website, thus restricting their capacity to offer accommodation and transport services alongside plane tickets, the authority said. <\/p>\n

The Italian government has asked the same regulator to police the price of flights to islands, modifying an original decree to cap airfares announced in August.<\/p>\n

Eddie Wilson, the chief executive of Ryanair DAC, the biggest airline in the Ryanair group, said the airline opposed the measure despite the modification.<\/p>\n

He also said Ryanair welcomes the antitrust agency’s investigation, saying it should take into account other aspects and “bring transparency for everybody”, as quoted by the ANSA news agency. <\/p>\n

During a visit to Sicily, Wilson contrasted Ryanair’s expansion of foreign flights to and from the island with the reduction on domestic routes.<\/p>\n

“Italian domestic growth has sadly been negatively impacted by the Italian government’s unlawful price cap decree to restrict airlines\u2019 freedom to set low air fares,” Wilson said in a statement.<\/p>\n

Ryanair has already reduced its domestic schedule for flights to Sardinia over the winter.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. A Ryanair plane is seen on the runway, after landing at Athens’ International Eleftherios Venizelos airport, following a bomb threat in midair, on the outskirts of Athens, Greece, January 22, 2023. REUTERS\/Alkis Konstantinidis\/File photo ROME (Reuters) -Italy’s antitrust agency opened an investigation on Wednesday into low-cost carrier Ryanair “for possible abuse of a […]<\/p>\n","protected":false},"author":1,"featured_media":3854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[37],"tags":[],"class_list":{"0":"post-14996","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stocks"},"yoast_head":"\nFacing fares row, Ryanair hit by new antitrust probe in Italy | Prosfunds<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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