Virgin considers action on subsidies

Virgin Express Holding NV said it is considering seeking compensation for the damage it suffered to its business as a result of illegal subsidies granted to rival Ryanair Holdings PLC.

The airline offers low-fare services in Europe with a fleet of about 15 Boeing 737s.

The carrier operates from Brussels to nearly 20 destinations throughout Europe and Britain.

Last week, the European Commission ordered Ryanair to pay back subsidies amounting to around €4m, received from the state-owned Charleroi airport in the south of Belgium, where the company has its continental hub.

Virgin Express, which operates from Brussels National airport, claims it has been "damaged" by this activity and is examining all of its legal options.

It said it will decide whether or not it will seek compensation once the full report is published by the commission.

The company did not comment on the amount of the damages that it might be able to claim as a result of the subsidies decision.

Virgin Express is 60% owned by Richard Branson's Virgin Group.