Aer Lingus wins UK court battle to force Ryanair out as it’s top shareholder: Washington Post

Posted: May 22, 2012 in Airlines, Aviation & Airports (General News), Europe, Ireland
Tags: , , , , , , ,

[Washington Post] DUBLIN — Aer Lingus welcomed a court victory Tuesday that permits British authorities to keep investigating Ryanair over its ownership of a 30 percent stake in Aer Lingus, a sore point between Ireland’s two major carriers.

Ryanair said it would appeal Tuesday’s judgment to the UK Supreme Court. Photo: Wikipedia

Ryanair said it would appeal Tuesday’s judgment to the UK Supreme Court. Photo: Wikipedia

Ryanair sought to block the probe into whether its status as the No. 1 shareholder in Aer Lingus represents a threat to competition on British-Irish air services. Ryanair lawyers argued that Britain’s Office of Fair Trading had no jurisdiction to investigate two Dublin-based airlines, and that the probe launched in 2010 came too late.But the Court of Appeal in London sided with the Office of Fair Trading and Aer Lingus, which wants Ryanair to be forced to sell. Ryanair built its stake as part of a hostile 2006 takeover bid that was blocked both by European Union regulators and Ireland’s government, which retains a 25 percent stake.

Ryanair said it would appeal Tuesday’s judgment to the UK Supreme Court.

Ryanair chief executive Michael O’Leary says he expects eventually to purchase the government’s stake to take control of Aer Lingus because of Ireland’s rapid descent to the brink of bankruptcy, culminating in a……

Read the full story at The Washington Post….


By Associated Press
Tuesday, May 22


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