Monday 20 November 2017

Dear Micheal: Accusations fly in Aer Lingus letter to Ryanair reporters

AER Lingus chairman Colm Barrington has told Ryanair in a letter that its ''second frivolous and unsuccessful bid for the airline'' had a much greater cost to Aer Lingus than a recent tax settlement with Revenue over a redundancy deal.

Earlier this year, Aer Lingus said it will pay Revenue €29.5m after reaching a settlement in a dispute over the controversial lay-off scheme.

In the letter to Michael O’Leary, the national airline also rejected its complaints that it is "continually ignored" by the Aer Lingus board.

Aer Lingus said Ryanair was a source of concern to other investors and welcomed its recent statement that it would be prepared to sell its near 30pc stake in Aer Lingus if the government found a buyer for the state's 25% stake.

''One of the greatest concerns that we hear from shareholders relates to Ryanair's shareholding in the company and its impact on the company's options and value.

The chairman added: ‘’As such, we welcome your recent statements that Ryanair would be prepared to dispose of its shareholding in Aer Lingus."

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