Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

In a significant move to protect consumer rights, Spain’s Consumer Rights Ministry has imposed a total of €179m in fines on five budget airlines, including Ryanair, EasyJet, Vueling, Norwegian, and Volotea. The fines, which are the largest ever issued by the ministry, are a result of an investigation into the airlines’ “abusive practices” such as charging for hand luggage and reserving seats for children.

Ryanair, the largest low-cost carrier in Europe, has been hit with the largest fine of €108m, followed by EasyJet’s penalty of €29m. Vueling, Norwegian, and Volotea have also been fined €39m, €1.6m, and €1.2m respectively.

The ministry has accused the airlines of providing misleading information and not being transparent with prices, making it difficult for consumers to compare offers and make informed decisions. The fines were calculated based on the “illicit profit” obtained by each airline from these practices.

The airlines have vowed to appeal the decision, with Ryanair’s CEO Michael O’Leary calling the fines “illegal” and “baseless”. However, the ministry has defended its decision, stating that it is based on Spanish and EU law.

The move has been welcomed by consumer rights groups, with Facua, a Spanish consumer association, calling the decision “historic”. The association has been campaigning against the fees for six years and sees the fines as a major victory for consumers.

The fines are a significant blow to the budget airline industry, which has long been criticized for its opaque pricing practices. The move is likely to have far-reaching implications for the industry, with airlines being forced to rethink their pricing strategies and become more transparent with consumers.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • BTC Drops Below $84,000, Bitcoin Suffers $751M in OutflowsBTC Drops Below $84,000, Bitcoin Suffers $751M in Outflows Key momentsBitcoin’s price slipped 0.48% on Wednesday, sinking past the $84,000 mark. The inconsistent approach of the US administration toward tariffs weighed on global markets and the cryptocurrency sphere. According to CoinShares, […]
  • Zara Owner Inditex Sees First-Quarter Sales Dip, Shares Fall 7%Zara Owner Inditex Sees First-Quarter Sales Dip, Shares Fall 7% Key momentsInditex reports fourth-quarter sales and net income in line with analyst expectations. The company announces a 4% growth in first-quarter sales, a notable drop from the previous year's 11%. Inditex shares experience a 7% […]
  • Switzerland producer prices drop the least since Dec 2023Switzerland producer prices drop the least since Dec 2023 Producer and import prices in Switzerland decreased at an annual rate of 1.8% in April, the latest data by the Swiss Federal Statistical Office showed on Tuesday.It has been the 12th consecutive month of year-on-year decline, but yet, […]
  • Norway’s retail sales surge for second month in MarchNorway’s retail sales surge for second month in March Retail sales in Norway grew for a second straight month in March, the latest data by Statistics Norway showed.Sales rose 0.3% in March over February, following a revised up 0.2% increase in the prior month.Sales of other goods rose […]
  • Forex Market: USD/CAD daily trading forecastForex Market: USD/CAD daily trading forecast Yesterday’s trade saw USD/CAD within the range of 1.1743-1.1841. The pair closed at 1.1759, losing 0.28% on a daily basis.At 7:42 GMT today USD/CAD was down 0.05% for the day to trade at 1.1755. The pair touched a daily low at […]
  • GBP/CAD bounces off 4-week low with BoE cautious about cutsGBP/CAD bounces off 4-week low with BoE cautious about cuts The GBP/CAD currency pair rebounded from Thursday's 4-week trough, after the Bank of England kept borrowing costs on hold and said it wanted more proof inflation would go back to target before cutting rates.The Bank of England left its […]