June 26 (Bloomberg) -- Rival airlines to Ryanair Holdings Plc have drawn up a report alleging that the Irish discount carrier would have made a loss of 304.9 million euros ($381.6 million) in the 2011-12 financial year if it wasn’t for state support, L’Echo reported, citing a copy of the document.
The report, which hasn’t been made public, was drawn up by the Association of European Airlines, a trade group, L’Echo said.
In an interview with the Belgian newspaper, Ryanair Chief Executive Officer Michael O’Leary denied that the airline received state aid. Tax reductions that the company has negotiated with airports do not count as public support, he said.
O’Leary said Ryanair would seek to begin flights from another four European airports by the end of this year, according to L’Echo.
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