Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

Ryanair Holdings PLC RYA RYANAIR UPDATE ON AER LINGUS OFFER



  Ryanair Holdings PLC (RYA) - RYANAIR UPDATE ON AER LINGUS OFFER

RNS Number : 1477R
Ryanair Holdings PLC
14 November 2012
 



                      RYANAIR UPDATE ON AER LINGUS OFFER

Ryanair, Europe's only ultra-low cost airline, confirmed today (14 Nov) that
its discussions continue with the European Commission about its radical
package of remedies designed to address the Commission's competition concerns
in relation to Ryanair's 19 June offer for Aer Lingus.  This comprehensive
remedies package includes a number of new airline bases in Dublin, new entrant
competitors on over 40 routes to/from Dublin, Cork and Shannon, as well as
specific competition solutions that guarantee increased price competition on
routes to and from Ireland.  Following receipt of the Commission's statement
of objections last evening (13 Nov), a standard procedural step in Phase II EU
merger reviews, Ryanair expects that the Commission will shortly market test
this transformational remedies package, and remains confident that its offer
for Aer Lingus will receive competition clearance following any fair
assessment by the Commission.  A detailed process of engagement with the EU
Commission is now underway.

Ryanair's offer for Aer Lingus is being reviewed while dramatic changes take
place across the EU airline industry, including: (1) a large restructuring of
Iberia with 4,500 job losses; (2) the takeover of Vueling by IAG, combining
the No 2 and No 3 airlines in Spain; (3) a major restructuring of SAS
including 6,000 job losses and state backed loan guarantees; and (4) the
planned merger of Aegean and Olympic, the No 1 and No 2 airlines in Greece. 
It is against this backdrop that Ryanair is proposing a merger that provides
secure jobs, growth opportunities and financial benefits for all shareholders
in a larger Ireland based EU carrier.

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
MSCLLFEELLLSLIF -0- Nov/14/2012 15:53 GMT
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement