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21/10/2009
Aer Lingus Should Merge – But Not With Ryanair
A former Aer Lingus chief executive has said the future of the airline can only be secured if it merges with another airline – as long as that airline isn't Ryanair.
Willie Walsh, who left the airline in 2005 and is now chief executive of British Airways, said Aer Lingus' future was now uncertain due to a variety of factors, and that the airline should consider a merger.
Speaking at the Jim Kemmy Business School at the University of Limerick yesterday, Mr Walsh said: "Given what has happened to the economy and given the way Aer Lingus has struggled in recent times, I think you could make an argument that its future as an independent carrier is not that secure and maybe Aer Lingus does need to look at a relationship with some other carrier or a number of other carriers."
Since mid last year, Ryanair has made a number of bids for a take over of the State-run airline, all of which were rejected after interventions from the Competition Commission and assertions from the Aer Lingus Board that the Michael O'Leary owned budget airline had undervalued the company.
Mr Walsh said that he believed a merger with Ryanair would be "very difficult" although not impossible.
He added: "There are serious competition issues and there is a very significant overlap between Aer Lingus and Ryanair and the competition regulators will always struggle with that."
Coincidentally, today Ryanair has launched an attack on what it claims is "BAA airport monopoly" in the airport sector in London.
Ryanair said today that it would be drawing the Competition Appeal Tribunal’s attention to the way in which "the BAA monopoly has abused its power" by building facilities its airline customers "neither wanted nor needed."
Ryanair’s Michael O’Leary said today: "Competition is the only way to ensure that competition and the consumer interest is protected from the damage inflicted by years of the high cost BAA monopoly”.
(DW/KMcA)
Willie Walsh, who left the airline in 2005 and is now chief executive of British Airways, said Aer Lingus' future was now uncertain due to a variety of factors, and that the airline should consider a merger.
Speaking at the Jim Kemmy Business School at the University of Limerick yesterday, Mr Walsh said: "Given what has happened to the economy and given the way Aer Lingus has struggled in recent times, I think you could make an argument that its future as an independent carrier is not that secure and maybe Aer Lingus does need to look at a relationship with some other carrier or a number of other carriers."
Since mid last year, Ryanair has made a number of bids for a take over of the State-run airline, all of which were rejected after interventions from the Competition Commission and assertions from the Aer Lingus Board that the Michael O'Leary owned budget airline had undervalued the company.
Mr Walsh said that he believed a merger with Ryanair would be "very difficult" although not impossible.
He added: "There are serious competition issues and there is a very significant overlap between Aer Lingus and Ryanair and the competition regulators will always struggle with that."
Coincidentally, today Ryanair has launched an attack on what it claims is "BAA airport monopoly" in the airport sector in London.
Ryanair said today that it would be drawing the Competition Appeal Tribunal’s attention to the way in which "the BAA monopoly has abused its power" by building facilities its airline customers "neither wanted nor needed."
Ryanair’s Michael O’Leary said today: "Competition is the only way to ensure that competition and the consumer interest is protected from the damage inflicted by years of the high cost BAA monopoly”.
(DW/KMcA)
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01 December 2008
Ryanair Flies Into Takeover Turbulence
There's a multi-million euro bid for Aer Lingus on the table today as budget airline Ryanair makes a fresh takeover offer. The all-cash offer would value Aer Lingus at €748m euros (£619m) a lot less than the previous offer for Aer Lingus, which valued it at €1.5 billion.
Ryanair Flies Into Takeover Turbulence
There's a multi-million euro bid for Aer Lingus on the table today as budget airline Ryanair makes a fresh takeover offer. The all-cash offer would value Aer Lingus at €748m euros (£619m) a lot less than the previous offer for Aer Lingus, which valued it at €1.5 billion.
02 June 2009
Ryanair Flies Low
The budget airline Ryanair - which flies from two bases in Northern Ireland - has revealed financial returns showing a major nosedive in operating profits. Ryanair plunged into the red by €169.2 million (£145.9m) in the year to March after being hit with a 59% hike in its fuel bill.
Ryanair Flies Low
The budget airline Ryanair - which flies from two bases in Northern Ireland - has revealed financial returns showing a major nosedive in operating profits. Ryanair plunged into the red by €169.2 million (£145.9m) in the year to March after being hit with a 59% hike in its fuel bill.
18 May 2009
Aer Lingus Dismisses 'Bankrupt' Claim
A senior executive at the troubled former state airline, Aer Lingus, has dismissed claims by Ryanair Chief Executive Michael O'Leary that the former flag carrier would be bankrupt within 18 months.
Aer Lingus Dismisses 'Bankrupt' Claim
A senior executive at the troubled former state airline, Aer Lingus, has dismissed claims by Ryanair Chief Executive Michael O'Leary that the former flag carrier would be bankrupt within 18 months.
17 December 2008
Revamped Ryanair Offer Shot-Down
Aer Lingus has rejected the Ryanair offer despite a revised bid from the budget airline yesterday. The rejection comes in spite of two major changes to the initial hostile takeover offer, with the Aer Lingus Chairman Colm Barrington dismissing the offer as "nothing new".
Revamped Ryanair Offer Shot-Down
Aer Lingus has rejected the Ryanair offer despite a revised bid from the budget airline yesterday. The rejection comes in spite of two major changes to the initial hostile takeover offer, with the Aer Lingus Chairman Colm Barrington dismissing the offer as "nothing new".
29 November 2001
Irish airport sector hit by further redundancies
It is thought that over 200 jobs are under threat at Dublin Airport following reports that Servisair has issued protective redundancy notices to workers at the site.
Irish airport sector hit by further redundancies
It is thought that over 200 jobs are under threat at Dublin Airport following reports that Servisair has issued protective redundancy notices to workers at the site.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
