Judgment of the General Court (Eighth Chamber, Extended Composition) of 20 December 2023.#Ryanair DAC and Malta Air ltd. v European Commission.#State aid – Aid granted by France to Air France in the context of the COVID-19 pandemic – State guarantee for a bank loan and a subordinated loan by the State – Decision declaring the aid compatible with the internal market – Action for annulment – Locus standi – Substantial adverse effect on the applicant’s position on the market – Admissibility – Determination of the beneficiary of the aid in the context of a group of companies.#Case T-216/21.