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Ryanair drops Aer Lingus bid after EC intervenes
Saturday, 21 Dec, 2006
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Ryanair has dropped its £990 million bid for Aer Lingus after the European Commission intervened.
But the Irish budget carrier said it would make a renewed offer for Aer Lingus if the Commission clears the deal.
The Commission’s decision to refer the deal for a competition probe was not unexpected in aviation circles.
However, Ryanair CEO Michael O’Leary’s assertion that he will return with a fresh offer if the proposal is cleared came as a surprise.
A statement said:”Ryanair announces that, in the event of EC clearance, Ryanair intends to make a further offer for Aer Lingus.”
Report by Phil Davies
Phil Davies
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