Ryanair to challenge Portugal's TAP bailout in EU courts

DUBLIN (Reuters) - Ryanair <RYA.I> said on Friday it will challenge the Portuguese government's investment in ailing flag carrier TAP in the European courts, arguing that it is "illegal state aid".

Portugal's government announced on Thursday it had sealed a final deal with private shareholders of TAP to increase its stake to 72.5% from 50%.

"Ryanair will challenge this illegal state aide to TAP in the European Courts and will continue to campaign for a level playing field in Portugal for all airlines," Ireland-based Ryanair said in a statement.

(Reporting by Conor Humphries; Editing by Susan Fenton)