13th Apr 2005 17:56
Ryanair Holdings PLC13 April 2005 BAA AND RYANAIR SETTLE THE FUEL LEVY DISPUTE AT STANSTED BAA and Ryanair have agreed an out of court settlement which brings to an endthe legal challenges surrounding the scale of fuel levy charges at StanstedAirport. Ryanair has paid BAA the amount which it had previously withheld because of thedispute with the airport about the rate of the fuel levy charge. BAA haswithdrawn its claims that Ryanair committed a repudiatory breach of its contractat Stansted. As from 1 April 2005, BAA is reducing its fuel levy charge at Stansted from0.68p per litre to 0.412p per litre. This agreement will last until the nextregulatory review period starts in April 2008. As a result of this agreement,the fuel levy savings to Ryanair will exceed £1million per annum. Both companies have agreed that other than the above details, they will notcomment further on the terms of this settlement. Ends. For reference: Peter Sherrard Pauline McAlesterRyanair Murray ConsultantsTel: 01-8121228 Tel: 01-4980300 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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