Ryanair: Aer Lingus takeover inevitable
24.09.08
Howard Millar, the Chief Financial Officer of Ryanair, told Sky News that a takeover of Aer Lingus is now inevitable.
Ryanair has a stake of almost 30% in its Irish rival. but a previous takeover attempt to buy it was blocked by the EU Competition Authority and was also unpopular with Aer Lingus shareholders, including the Irish Government, employees and pilots.
Mr Millar said: ‘We're presently appealing the ruling. We own 30%, the Irish government owns 25% and the unions and others own about 12-14% of the company. It may be unpopular, but it's what is going to happen.’
The appeal will be heard early next year. Ryanair believes that the current financial climate has changed attitudes towards the possible buyout and the decision will be different this time around.
Add to: del.icio.us | Digg it | Newsvine | NowPublic | Reddit
To book airport hotel belfast or airport car parking belfast at the lowest price click on these links to Belfast airport car parking and Belfast airport hotel price comparison pages.
