Menu
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)
Related Northern Ireland News Stories
Click here for the latest headlines.
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.
19 October 2007
Ryanair Hits Out As Aer Lingus Takes Flight
The latest news on the controversal Aer Lingus move to a Belfast operation - closing the Shannon-Heathrow route - is that its biggest rival (and ironically, its biggest shareholder), Ryanair is to provide three additional daily flights to London from Shannon Airport to ensure capacity and traffic does not fall as a result of the closure.
Ryanair Hits Out As Aer Lingus Takes Flight
The latest news on the controversal Aer Lingus move to a Belfast operation - closing the Shannon-Heathrow route - is that its biggest rival (and ironically, its biggest shareholder), Ryanair is to provide three additional daily flights to London from Shannon Airport to ensure capacity and traffic does not fall as a result of the closure.
14 August 2007
Aer Lingus Pilots Announce 48-Hour Strike
Around 500 Aer Lingus pilots have announced plans to hold a 48-hour strike next week, in protest over plans to pay staff at the company's new Belfast operation less than those in the Irish Republic. The strike is due to be held next Tuesday and Wednesday and is expected to affect all the air routes run by Aer Lingus.
Aer Lingus Pilots Announce 48-Hour Strike
Around 500 Aer Lingus pilots have announced plans to hold a 48-hour strike next week, in protest over plans to pay staff at the company's new Belfast operation less than those in the Irish Republic. The strike is due to be held next Tuesday and Wednesday and is expected to affect all the air routes run by Aer Lingus.
01 December 2008
Ryanair Flies Into Takeover Turbulence
There's a multi-million euro bid for Aer Lingus on the table today as budget airline Ryanair makes a fresh takeover offer. The all-cash offer would value Aer Lingus at €748m euros (£619m) a lot less than the previous offer for Aer Lingus, which valued it at €1.5 billion.
Ryanair Flies Into Takeover Turbulence
There's a multi-million euro bid for Aer Lingus on the table today as budget airline Ryanair makes a fresh takeover offer. The all-cash offer would value Aer Lingus at €748m euros (£619m) a lot less than the previous offer for Aer Lingus, which valued it at €1.5 billion.
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.
-
Northern Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
