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Ryanair bid grounded

Ryanair has been forced to pull out of any potential bid for London's third busiest airport, Stansted.

The airport's owners Ferrovial announced that it would exclude any bid, including one from the Irish airline.

Ryanair's Stephen McNamara said it was a strange decision to ban the airport's largest customers from being involved in any consortium to take over its operations.

"While we fully accept that Ferrovial is entirely free not to sell to Ryanair, we fail to understand how it can comply with competition law if Stansted's biggest customer, accounting for 70pc of the traffic, is excluded from this sale process," he said.