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Rabu, 29 Agustus 2012

EC investigates Ryanair's Aer Lingus bid

Aer Lingus continues to vehemently oppose the takeover approach and on Friday reiterated to shareholders that the €694m (£548m) bid "fundamentally undervalues" the carrier.

Ryanair has already made informal approaches to several other airlines, including British Airways and Virgin Atlantic, about taking up some of Aer Lingus's Heathrow take-off and landing slots, which are likely to form a central part of Mr O'Leary's proposed remedy package.

Aer Lingus is the third largest holder of coveted Heathrow slots, with 23 pairs.

However,Aer Lingus is expected to argue that competition issues on most other routes from Ireland to destinations such as Paris, Nice and Malaga are insurmountable unless another carrier is prepared to enter the Irish aviation market and offer direct competition to Ryanair.

Heathrow aside, it is understood Aer Lingus has identified more than 45 "problem routes" where air passengers would have no alternative to flying with a combined Ryanair/Aer Lingus.

In its defence document In July, Aer Lingus has claimed Ryanair would operate a near monopoly on flights from Dublin, Shannon, Cork and Knock were Mr O'Leary's bid to succeed.

Ryanair is also pursuing a 25pc stake in Stansted after BAA put the Essex airport up for sale.

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