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

Airborne Unlimited-
Monday

Airborne-Unmanned w/AUVSI-
Tuesday

Airborne Unlimited-
Wednesday

AMA Drone Report-
Thursday

Airborne Unlimited-
Friday

Airborne On ANN

Airborne 02.19.18

Airborne-UnManned 02.13.18

Airborne 02.14.18

AMA Drone Report 02.15.18

Airborne 02.16.18

Airborne-YouTube

Airborne 02.19.18

Airborne-UnManned 02.13.18

Airborne 02.14.18

AMA Drone Report 02.15.18

Airborne 02.16.18

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

AMA Drone Report 02.15.18: AMA Expo East, Skydio R1, TSB Canada Report

Also: DJI Knowledge Quiz, GoFly Competition, Drone ID Rules Coming, FAA Unenthusiastic About Prosecuting? The Academy of Model Aeronautics will host the annual AMA Expo East at the>[...]

Airborne 02.16.18: R66 Wire-Strike Protection, Elk v Helo, Trump Budget

Also: Red Bull Picks Hartzell, SNC Dream Chaser, CH-53K Demo's Vehicle Lift, Emirates Firms Up A380 Orders Robinson has added wire strike protection provisions to its R66 options l>[...]

Airborne-Unmanned 02.13.18: FAA UAS Symposium, Airbus Delivers, Manned EHANG 184

Also: UAS Pilot Code, FAA Drone Program, SkyWatch Funding, Quantix Hybrid UAS For Farmers The FAA and AUVSI will co-host the 3rd Annual FAA Unmanned Aircraft Systems (UAS) Symposiu>[...]

Aero-News: Quote of the Day (02.19.18)

“We are excited that InstantEye has been selected by the Marines as their squad-level sUAS asset. We worked with the Navy and the Marines for some time as they tested and eva>[...]

ANN's Daily Aero-Linx (02.19.18)

Aero Linx: European Air Law Association (EALA) EALA was established in 1988 with the aim to promote the study of European air law and to provide an open forum for those with an int>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2018 Web Development & Design by Pauli Systems, LC