Ryanair to appeal decision ordering it to cut Aer Lingus stake to 5pc
Ryanair says it will appeal a decision today that it must cut its stake in Aer Lingus to no more than 5pc.
This morning, the UK Court of Appeal upheld a previous order by the Competition and Markets Authority (CMA) that it Ryanair must sell off most its stake units smaller rival.
Ryanair chief marketing officer Kenny Jacobs insisted the decision is wrong and that the airline will try to appeal the decision to the UK's Supreme Court. The airline needs to get permission from the court to do so.
It has insisted the ruling raises issues of "significant public importance, including the scope of protection offered to businesses by the right to property".
Mr Jacobs said Ryanair will also seek a review of the original order by the CMA.
Mr Jacobs also said he hopes the Government will make a "sensible" decision when considering a sale of it 25.1pc stake in Aer Lingus.
He said Aer Lingus needs a bigger parent company to help it grow.