Ryanair has brought forward the announcement of its third- quarter results so that they will not be released on the same day as a decision is expected on its controversial deal at Charleroi Airport.

The low-cost airline said it would now issue its results on January 28th, ahead of February 3rd, the date when the European Commission is expected to issue its ruling on the Belgian airport.

The EU Transport Directorate yesterday circulated a final draft to the cabinets of the other commissioners and a final decision could be announced next month. A spokesman said it was expecting a decision around February 3rd.

The inquiry examined whether Ryanair received illegal subsidies at Charleroi airport when it established a base there in 2001.

The investigation was sparked by a complaint from a competitor.

The outcome is likely to result in Ryanair having to repay some money to the EU and may result in the renegotiation of many of its deals with publicly owned airports across Europe.

It could cost the airline millions of euros.

The key issues that came under scrutiny were the landing charges Ryanair paid at Charleroi and the ground handling rates, which are likely to be raised.

The airline may also have to shorten the terms of its agreement with the airport from 15 years to five years.

It is thought that the Commission will use the investigation to establish a set of guidelines as to how state-owned airports should construct their agreements with airlines.

Ryanair has said it will appeal an unfavourable outcome.

The Commission is reported to believe that the verdict will be "lenient" as "the overall framework for future investment in regional airports will be relatively positive for Ryanair".