Ryanair says second bid on Aer Lingus is last

Ryanair management is saying that the airline will give up on its plans to take over rival carrier Aer Lingus if its second bid is rejected by shareholders. CFO Howard Millar said that Ryanair would focus on its own growth instead if that occurs, in comments made during an aircraft finance meeting.

Millar vowed that his carrier would “fold our tents and go elsewhere” if its second offer to take over Aer Lingus is not accepted by the 13 February deadline.

“They’re cutting back on growth, taking aircraft out,” he noted. “Aer Lingus needs to turn the other way. They should be increasing capacity, not reducing, and should be expanding across Europe.”

Millar went on to say: “To us, it’s like going into surgery, we want to get in there as early as possible.”

His comments were made after Labour spokesman Tommy Broughan reported that Aer Lingus pilots had expressed to him met with “grave concerns” about Ryanair’s €750 million takeover plan. Broughan said that he would be raising the issue at a Dail Transport Committee meeting.

Ryanair has until 30 January to increase its current offer of €1.40 per share to some point below €2. It is not expected that the airline will do this unless the Irish government, which is a 25 per cent shareholder, indicates a willingness to support the deal.

Thanks to www.independent.ie for the above quotes, for more information on this article please visit their website.

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