Tag Archives: 3169

The Irish government opposes the latest takeover bid of Aer Lingus by Ryanair

The Republic of Ireland, which owns 25 percent of Aer Lingus (Dublin), has publicly expressed its opposition to the takeover of Aer Lingus by rival Ryanair (Dublin). The European Commission will be the final judge on whether Ryanair can continue to acquire additional shares of Aer Lingus for a possible controlling interest. Ryanair currently controls 30 percent of Aer Lingus stock.

Read the full report from Reuters: CLICK HERE

Ryanair issued the following “no comment statement”:

Ryanair said it has no comment to make on the Minister Varadkar’s statement. Since the Government owns just 25% of Aer Lingus, it has no power to block Ryanair’s offer, which can still be successfully completed if we acquire a shareholding of 50% or more (Ryanair currently owns 30%).

The progress of Ryanair’s offer is subject to the outcome of the current EU competition review and Ryanair is continuing to progress that approval process, having submitted an unprecedented remedies package, which will increase competition, choice, traffic and jobs to and from the island of Ireland.
In other news for Ryanair, the ultra-fare carrier announced it had received the final two aircraft of its current Boeing order, growing its fleet to 305 Boeing 737-800s.

According to the airline, “Ryanair’s fleet is the youngest in Europe, with an average age of less than four years, making Ryanair the greenest and cleanest airline. Ryanair confirmed its intention to place a significant order for further aircraft once a sensible pricing agreement with a suitable manufacturer can be reached.”
Ryanair also announced a new route from Ireland West Airport Knock to Malaga in Spain starting on April 4, 2013. Ryanair also announced a new route from London Stansted to Kefalonia in Greece from April 1, 2013 and a new route from East Midlands to Zadar also from April 1, 2013.
Finally Ryanair announced it would open its 54th base (first in Croatia) at Zadar in April 2013 with one-based aircraft and unveiled 7 new routes (16 in total), to/from Dublin, East Midlands, Gothenburg, Haugesund, Liverpool, Paris and Wroclaw.
Copyright Photo: Rolf Wallner. Aer Lingus is an Airbus operator and Ryanair is a loyal Boeing customer up until now, although it is due to place another order. The battle for Aer Lingus could also determine which manufacturer prevails in the future if a takeover and merger is successful. Airbus A319-111 EI-EPR (msn 3169) of Aer Lingus arrives at London (Heathrow).
Aer Lingus: AG Slide Show
Ryanair: AG Slide Show

Aer Lingus rejects the hostile takeover bid by rival Ryanair

Aer Lingus‘ (Dublin) board of directors today rejected a takeover bid by rival Ryanair (Dublin). Ryanair yesterday launched a new bid to take control of the Irish international flag carrier. The board is recommending that all stockholders take no action on any proposals by Ryanair. Ryanair currently controls 29.82 percent of the Aer Lingus stock and is seeking to acquire a controlling share.

Read the full report from Finfacts Ireland: CLICK HERE

Copyright Photo: Paul Doyle.

Aer Lingus: