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06/07/2010
Ryanair's Aer Lingus Take-Off 'Grounded'
The European Court of Justice has ruled that Ryanair's takeover bid of Aer Lingus should be blocked.
However, the court ruled that Ryanair can hold on to its 29.9% stake in Aer Lingus.
Ryanair acquired a partial stake in Aer Lingus after its privatisation in 2006, then notified the European Commission that it was seeking a takeover.
In 2007, the European Commission declared the takeover bid was incompatible with EU competition rules but the 'budget airline' challenged that decision and in the meantime brought its shareholding up to 29.9%.
Tuesday's ruling looked at whether or not Ryanair should have been able to take over Aer Lingus.
Now that Ryanair has lost its action against the European Commission it is unlikely to make any further bids for Aer Lingus.
However, a spokesman said the company would be ready to buy Aer Lingus in the future if the government felt it was the right commercial decision.
(BMcC/KMcA)
However, the court ruled that Ryanair can hold on to its 29.9% stake in Aer Lingus.
Ryanair acquired a partial stake in Aer Lingus after its privatisation in 2006, then notified the European Commission that it was seeking a takeover.
In 2007, the European Commission declared the takeover bid was incompatible with EU competition rules but the 'budget airline' challenged that decision and in the meantime brought its shareholding up to 29.9%.
Tuesday's ruling looked at whether or not Ryanair should have been able to take over Aer Lingus.
Now that Ryanair has lost its action against the European Commission it is unlikely to make any further bids for Aer Lingus.
However, a spokesman said the company would be ready to buy Aer Lingus in the future if the government felt it was the right commercial decision.
(BMcC/KMcA)
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27 August 2010
Examiner Appointed To Aer Arann
The Dublin High Court has appointed an examiner for troubled airline, Aer Arann. The airline said it intends to operate normally during the period of examinership and intends to fly all Aer Arann services and all Aer Lingus Regional services operated under franchise agreement with Aer Lingus.
Examiner Appointed To Aer Arann
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21 October 2009
Aer Lingus - Ryanair Merger Rubbished
A former Aer Lingus boss has said the future of the airline can only be secured if it merges with another airline – as long as that airline isn't Ryanair.
Aer Lingus - Ryanair Merger Rubbished
A former Aer Lingus boss has said the future of the airline can only be secured if it merges with another airline – as long as that airline isn't Ryanair.
02 June 2009
Ryanair Flies Low
The budget airline Ryanair - which flies from two bases in Northern Ireland - has revealed financial returns showing a major nosedive in operating profits. Ryanair plunged into the red by €169.2 million (£145.9m) in the year to March after being hit with a 59% hike in its fuel bill.
Ryanair Flies Low
The budget airline Ryanair - which flies from two bases in Northern Ireland - has revealed financial returns showing a major nosedive in operating profits. Ryanair plunged into the red by €169.2 million (£145.9m) in the year to March after being hit with a 59% hike in its fuel bill.
18 May 2009
Aer Lingus Dismisses 'Bankrupt' Claim
A senior executive at the troubled former state airline, Aer Lingus, has dismissed claims by Ryanair Chief Executive Michael O'Leary that the former flag carrier would be bankrupt within 18 months.
Aer Lingus Dismisses 'Bankrupt' Claim
A senior executive at the troubled former state airline, Aer Lingus, has dismissed claims by Ryanair Chief Executive Michael O'Leary that the former flag carrier would be bankrupt within 18 months.
16 December 2008
Revamped Ryanair Offer Shot-Down
Aer Lingus - which recently marked its first year of operation at Belfast International Airport - has rejected a fresh Ryanair take-over offer despite a revised bid from the budget airline.
Revamped Ryanair Offer Shot-Down
Aer Lingus - which recently marked its first year of operation at Belfast International Airport - has rejected a fresh Ryanair take-over offer despite a revised bid from the budget airline.
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Northern Ireland WeatherToday:The day will be very windy with strong to gale force westerly winds becoming occasionally severe along the north coast. Sunny spells will be interspersed with scattered showers. Maximum temperature 8 °C.Tonight:West to northwest gale force winds, severe along the north coast, will continue overnight. Frequent showers persist, merging into longer periods of rain at times and turning wintry. Minimum temperature 1 °C.
