Ryanair won’t bid again for Aer Lingus
28.04.09
Ryanair chief executive Michael O’Leary said today the budget would not be making a third bid for its Irish rival Aer Lingus. Speaking to reporters in London he added that he had no plans to sell Ryanair’s 29.2% stake in Aer Lingus either.
Shares in Aer Lingus were down almost 20% today after the airline said its full-year loss would be higher than expected as it reported a 16% fall in first quarter revenues. Ryanair, which gained its stake in Aer Lingus following a hostile bid in 2006, made a second offer of €750 million for its rival in December, but withdrew it after the Irish government, which holds a 25% stake, rejected it.
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