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16/12/2008
Revamped Ryanair Offer Shot-Down
Aer Lingus - which recently marked its first year of operation at Belfast International Airport - has rejected a fresh Ryanair take-over offer despite a revised bid from the budget airline. The rejection comes in spite of two major changes to the initial hostile takeover offer, with Aer Lingus Chairman Colm Barrington dismissing it as "nothing new".
Originally, Ireland's mergers watchdog, the Takeover Panel, blocked two guarantees made as part of the Ryanair offer, arguing they could breach takeover rules by favouring one shareholder, namely the Irish Government which owns 25% of Aer Lingus.
Ryanair - which flies from City of Derry and George Best Belfast City Airport in Northern Ireland - then changed the two clauses, saying they would no longer sell Aer Lingus' Heathrow Airport landing slots, and removing a €100 million guarantee originally to be paid to the Government if Ryanair defaulted on its promises to cut fares.
The Board of Aer Lingus has opposed the approach, saying the offer was "a stream of spin and misrepresentation".
In a sign of Aer Lingus' growing strength amid recent troubles, the airline announced yesterday it was to remove all fuel surcharges from its long haul flights.
Dermot Mannion, Aer Lingus Chief Executive, said, "This is very good news for Aer Lingus customers.
"We have been consistent in our approach to the fuel surcharge. Now that oil prices have fallen and stabilised over the past number of months, we believe the right thing to do is to remove these surcharges altogether."
Aer Lingus did not impose a fuel surcharge on its short haul services.
(DW)
Originally, Ireland's mergers watchdog, the Takeover Panel, blocked two guarantees made as part of the Ryanair offer, arguing they could breach takeover rules by favouring one shareholder, namely the Irish Government which owns 25% of Aer Lingus.
Ryanair - which flies from City of Derry and George Best Belfast City Airport in Northern Ireland - then changed the two clauses, saying they would no longer sell Aer Lingus' Heathrow Airport landing slots, and removing a €100 million guarantee originally to be paid to the Government if Ryanair defaulted on its promises to cut fares.
The Board of Aer Lingus has opposed the approach, saying the offer was "a stream of spin and misrepresentation".
In a sign of Aer Lingus' growing strength amid recent troubles, the airline announced yesterday it was to remove all fuel surcharges from its long haul flights.
Dermot Mannion, Aer Lingus Chief Executive, said, "This is very good news for Aer Lingus customers.
"We have been consistent in our approach to the fuel surcharge. Now that oil prices have fallen and stabilised over the past number of months, we believe the right thing to do is to remove these surcharges altogether."
Aer Lingus did not impose a fuel surcharge on its short haul services.
(DW)
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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.
19 October 2007
Ryanair Hits Out As Aer Lingus Takes Flight
The latest news on the controversal Aer Lingus move to a Belfast operation - closing the Shannon-Heathrow route - is that its biggest rival (and ironically, its biggest shareholder), Ryanair is to provide three additional daily flights to London from Shannon Airport to ensure capacity and traffic does not fall as a result of the closure.
Ryanair Hits Out As Aer Lingus Takes Flight
The latest news on the controversal Aer Lingus move to a Belfast operation - closing the Shannon-Heathrow route - is that its biggest rival (and ironically, its biggest shareholder), Ryanair is to provide three additional daily flights to London from Shannon Airport to ensure capacity and traffic does not fall as a result of the closure.
14 August 2007
Aer Lingus Pilots Announce 48-Hour Strike
Around 500 Aer Lingus pilots have announced plans to hold a 48-hour strike next week, in protest over plans to pay staff at the company's new Belfast operation less than those in the Irish Republic. The strike is due to be held next Tuesday and Wednesday and is expected to affect all the air routes run by Aer Lingus.
Aer Lingus Pilots Announce 48-Hour Strike
Around 500 Aer Lingus pilots have announced plans to hold a 48-hour strike next week, in protest over plans to pay staff at the company's new Belfast operation less than those in the Irish Republic. The strike is due to be held next Tuesday and Wednesday and is expected to affect all the air routes run by Aer Lingus.
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.
27 August 2010
Examiner Appointed To Aer Arann
The Dublin High Court has appointed an examiner for troubled airline, Aer Arann. The airline said it intends to operate normally during the period of examinership and intends to fly all Aer Arann services and all Aer Lingus Regional services operated under franchise agreement with Aer Lingus.
Examiner Appointed To Aer Arann
The Dublin High Court has appointed an examiner for troubled airline, Aer Arann. The airline said it intends to operate normally during the period of examinership and intends to fly all Aer Arann services and all Aer Lingus Regional services operated under franchise agreement with Aer Lingus.
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