Ryanair braced for heavy fine from EU

RYANAIR believes it will have to pay out millions of euro as its worst fears have been confirmed in its "state aid" battle with the EU Commission, which could also impinge on the future growth of Cork, Shannon and Dublin airports.

And the results of the EU investigation into whether the airline received unfair state aid at its Belgian Charleroi hub, some 40 km south of Brussels, could wipe hundreds of million euro off the company's value.

Ryanair shares fell 25 cents to €6.75 yesterday.