Booking.com to return $ 110M state aid

Booking.com CEO, Glenn Fogel announced that they intend to repay the aid they received through the Netherlands payroll support and government subsidies from other countries.

In a statement, Booking said that the aid was received during the uncertainty in the pandemic, but the increasing booking trend, especially in some countries, encouraged the company.

The state aid that Booking has announced it will repay is approximately 110 million dollars in total.

The nearly $31 million (mostly in stock) compensation package that Booking.com paid the company’s CEO and CFO for 2020 caused criticism in the Netherlands.