Ryanair Holdings PLC (RYA) - RYANAIR WELCOMES PROPOSED IAG -VUELING MERGER
RNS Number : 8877Q
Ryanair Holdings PLC
12 November 2012
RYANAIR WELCOMES PROPOSED IAG -VUELING MERGER
MIRRORS EARLIER BA/BMI & CURRENT RYANAIR/AER LINGUS OFFER
Ryanair, Europe's only ultra low fares airline, today (12 Nov) welcomed the
announcement by IAG/Iberia that it intends to acquire Vueling, as the
consolidation of Europe's airlines continues.
This latest airline merger mirrors the EU Commission's Phase 1 approved merger
of IAG/British Airways with British Midland (in the UK) in March 2012,
Aegean's recent takeover offer for Olympic in Greece and Ryanair's offer for
Aer Lingus, which is currently being reviewed by the EU Competition
IAG's announcement that it is to cut 4,500 jobs at Iberia further demonstrates
the changing landscape of Europe's aviation industry and the need for
continuing restructuring and reform among Europe's high fares former flag
carriers who, like Aer Lingus, cannot survive as independent airlines.
Ryanair's Stephen McNamara said:
"The merger of IAG Iberia and Vueling is another logical merger of EU airlines
operating in the same market and mirrors IAG/British Airways takeover of BMI
in the UK earlier this year, Aegean's offer for Olympic in Greece and
Ryanair's current offer for Aer Lingus in Ireland.
As Europe's flag carrier airlines continue to consolidate Ryanair believes
that its offer for Aer Lingus should be approved by the EU Competition
Authorities if they follow - fairly - the precedent set in the BA/BMI merger
and last weeks takeover of Vueling in Spain by BA/IAG. These are all
inevitable steps in the consolidation process of Europe's high fares former
flag carrier airlines."
Stephen McNamara Joe Carmody
Ryanair Ltd Edelman
Tel: +353-1-8121212 Tel. +353-1-6789333
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MSCFLLFFLFFZFBE -0- Nov/12/2012 11:46 GMT
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