Ryanair Launches New Bid For Aer Lingus | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

AMA Drone Report

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday

Airborne-Thursday

Airborne-Friday

Airborne-Unmanned w/AUVSI

Airborne On ANN

AMA 08.10.17

Airborne 08.14.17

Airborne 08.15.17

Airborne 08.16.17

Airborne 08.17.17

Airborne 08.11.17

Airborne-Unmanned 08.15.17

Airborne-YouTube

AMA 08.10.17

Airborne 08.14.17

Airborne 08.15.17

Airborne 08.16.17

Airborne 08.17.17

Airborne 08.11.17

Airborne-Unmanned 08.15.17

NEW!!! 2017 AirVenture Innovation Preview -- YouTube Presentation / Vimeo Presentation

Wed, Dec 03, 2008

Ryanair Launches New Bid For Aer Lingus

This Time Around, Gov't Willing To Talk

What a difference two years and a deep recession can make.

In 2006, Irish low-cost carrier Ryanair made a run at acquiring its only major domestic rival, Irish flag carrier Aer Lingus, for about 1.5 billion euro. The economy was booming, Ireland was awash in tax revenue... and the government, unions, management and shareholders of Aer Lingus all hated the deal, so it went nowhere, even though Aer Lingus was losing money.

The Wall Street Journal reports Ireland is now sharing in the deep worldwide recession, the government is running deficits, Aer Lingus is still in the red, and Ryanair is back again. But this time, the offer is only half the amount offered two years ago.

The unions and executives of Aer Lingus are still opposed... but this time around, despite the much lower offer, the government says it will look the deal. Holding roughly a quarter of the company shares, the government's position is seen as crucial.

Ryanair CEO Michael O'Leary points out that economic upheaval and continuing consolidation in Europe's airline industry leave no chance for Aer Lingus to remain viable on its own. Amid concerns for consumers, he points out that Aer Lingus has increased fares and added fees since his last offer.

"The world has changed" since 2006, O'Leary said. "We think what will be most influential to EU regulators will be the Irish government's attitude... Our focus this week will be on persuading the Irish government and Aer Lingus the benefits of the deal."

He adds employee shareholders would get more than 137 million euro in cash, and the government more than 188 million, if the bid is successful. He also thinks he can create a thousand new jobs over the first few years of combined operations.

Ryanair has asked for a meeting with the board of Aer Lingus as soon as possible to explain its position.

FMI: www.ryanair.com, www.aerlingus.com

Advertisement

More News

RFP: ANN Seeking New Site/Facility For Major Studio Upgrade

It's Official: Aggressive Upgrades For New Airborne Programs WILL Require New Digs It's been in development for years, but we're getting to a point where we think we can pull off s>[...]

AMA Drone Report 08.10.17: AMA Gov't Outreach, Nat'l Model Av Day, Lego Drones

Also: Volaero Tracks Pythons, Army v DJI, Snap Acquiring Drone?, Orlando Backs Down There’s no rest for the folks at AMA that deal with the politics that comes with flying ho>[...]

Airborne-Unmanned 08.15.17: Reno Drone Races, DoD CrackDown, Blue Angels v UAV?

Also: Kansas DOT-AirMap, CIRRUAS Drone Program, Daytona Beach PD UAS, Virginia UAS SAR The Reno Air Racing Association has signed an agreement with the MultiGP Drone Racing League >[...]

Airborne 08.15.17: Lycoming AD, Reno Drone Racing!, Santa Monica NIMBYs

Also: Icon A5 Accident, Aero-Calendar, Land Remote Sensing, Storm Aviation, Frontier, World Helicopter Day, Hubble The FAA has issued an Airworthiness Directive (AD) for the connec>[...]

Airborne 08.14.17: Concorde Return?, KSMO RWY Plans, DC Overflights

Also: San Mateo $$, Verhees Delta, Midwest Express, BizAv Activity, Cal Fire, AAR Ldg Gear, jetAVIVA The Concorde SST was retired in 2003 by British Airways and Air France after th>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC