Wednesday 16 April 2014

Ryanair’s Michael O’Leary says he’s hopeful of European green light to buy Aer Lingus

RYANAIR chief executive Michael O’Leary says he’s still hopeful that the European Commission will sanction the airline’s €694m attempt to buy Aer Lingus.

He warned again that Aer Lingus faces being broken up if Ryanair’s latest takeover attempt fails.

Speaking following Ryanair’s annual general meeting in Dublin this morning, Mr O’Leary said that the carrier has tabled “radical remedies” to Brussels in an effort to secure approval.

He said that a number of airlines have already told Ryanair that they will begin servicing routes to and from Dublin that Ryanair would plan to relinquish under a deal to acquire Aer Lingus.

Mr O’Leary added that a draft form of the proposed remedies Ryanair is prepared to table has already been submitted in draft form to EU mandarins. A formal scheme of remedies will be furnished in coming weeks.

The chief executive also said that former EU internal markets commissioner Charlie McCreevy, who sits on the Ryanair board, has not been engaged at all in the talks with Brussels.

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