Booking.com to repay $110 million in public subsidies in the Netherlands
17-04-24
Booking Holdings Inc., a major U.S. travel company, announced on Friday its decision to repay $110 million in government aid received during the COVID-19 crisis. This move comes in response to scrutiny from Dutch lawmakers regarding the firm’s executive compensation in 2020.
The company, which disclosed this in a U.S. Securities and Exchange Commission filing, received substantial support, including $78 million from the Netherlands, where its largest subsidiary is based. The aid was initially accepted during a period of significant business downturn and uncertainty about the travel industry's recovery timeline.