Ryanair hit by Hungarian tax Michael O’Leary says it’s ‘more than stupid’

Ryanair has been fined in Hungary over a windfall tax that the airline’s chief executive, Michael O’Leary, has called “beyond stupid”.

Hungary’s Consumer Protection Agency has fined Ryanair 300 million forints (EUR 760,000) for its decision to pass on the cost of the tax to its customers, Justice Minister Judit Varga said in a Facebook post yesterday.

Ryanair announced that it would appeal the decision.

The Hungarian government and Ryanair have been locked in a war of words since Prime Minister Viktor Orban’s cabinet imposed a so-called “extra profits tax” on sectors like energy and banking in June.

Airlines have been hit with a departure tax as part of new taxes announced in June aimed at plugging budget shortfalls after record pre-election spending and subsidizing rising energy costs.

Mr O’Leary has said it was “beyond foolish” to levy such a tax on airlines just as they were recovering from losses caused by the Covid-19 pandemic.

Ms Varga said Hungary will investigate and impose fines in “all cases” where companies divert the levy to their customers.

Hungary’s fine was “unfounded” and Ryanair stands ready to appeal as far as European Union courts if necessary, the airline said in a statement.

It added that it has not yet received any official notification of the fine.

Hungary’s budget posted a surprising surplus in July.

https://www.independent.ie/business/ryanair-hit-with-hungarian-tax-michael-oleary-says-is-beyond-stupid-41898536.html Ryanair hit by Hungarian tax Michael O’Leary says it’s ‘more than stupid’

Fry Electronics Team

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