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Ireland: Ryanair hints at surrender in Aer Lingus fight

 |  April 6, 2014

In what is believed to be the first time its chairman has commented on the matter, Ryanair head David Bonderman told reporters that Aer Lingus, of which the airline owns a stake, is “not material” to the future of the company.

The UK’s former Competition Commission ordered Ryanair to divest its assets in Aer Lingus last year down to no more than five percent. Ryanair has made headlines since in its challenge to the Commission’s ruling. The Competition Appeal Tribunal upheld the Commission’s decision, but Ryanair is now appealing the CAT’s decision to the UK Court of Appeal.

In a separate matter, the European Commission blocked Ryanair’s attempt to fully acquire Aer Lingus for a third time. Ryanair is similarly appealing that decision.

But while Ryanair has been stubborn on the rulings, the company could be hinting at acceptance of the decision. “It is certainly the case, whether we win or lose those cases, it is not material to Ryanair’s future,” Bonderman said. “It’s not serious one way or the other. We’d prefer to win the litigation and if we lose the litigation we’ll have to divest the shares, but it won’t be material to Ryanair’s future either way.”

Full Content: Independent.ie

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