O'Leary: Ruling may impact shares for up to two years

Michael O'Leary, chief executive of Ryanair, has said that a negative ruling by the EU on the airline's deal with the Belgian airport at Charleroi could negatively affect the company's share price for the next two years.

The European Commission is to decide whether the deal between Ryanair and Charleroi, a local authority airport, amounts to illegal state aid.

Ryanair said it will appeal any ruling against it but warned that its base at Charleroi may close temporarily while the appeal is pending.

A spokesperson for the Commission has said that there may not be a ruling until early next year, despite already saying it would publish a decision this month.

The decision will affect the airline's future dealings with secondary airports.