DUBLIN, May 19 (Reuters) - Ryanair on Wednesday welcomed a decision by Europe’s second-highest court to uphold a challenge to the billions of euros in state aid granted to its rivals KLM and TAP as “an important victory for consumers and competition.” “The European Commission’s approvals of state aid to Air France-KLM and TAP went against the fundamental principles of EU law and reversed the clock on the process of liberalisation in air transport by rewarding inefficiency and encouraging unfair competition,” the statement said. It said it would appeal the dismissal of a third challenge, to a Spanish fund for virus-hit companies. (Reporting by Conor Humphries, editing by Louise Heavens) Our Standards: The Thomson Reuters Trust Principles.