Ryanair challenges CMA decision on Aer Lingus stake

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP March 5, 2015 16:48

Ryanair challenges CMA decision on Aer Lingus stake

Ryanair requested on February 13, 2015 for the Competition and Markets Authority (CMA) to reconsider a 2013 decision ordering it to sell down its 30% stake in Aer Lingus. At the time, the CMA stated that Ryanair’s shareholding might be an obstacle to Aer Lingus merging or being acquired by another airline. Ryanair’s submission argued that IAG’s bid for Aer Lingus, which is supported by the airline’s management, disproves this argument.

“The findings in the Final Report have now been contradicted and disproven by events, which demonstrate conclusively that Ryanair’s shareholding in Aer Lingus does not prevent Aer Lingus from merging with, being acquired by … other airlines,” Ryanair said in its submission.

It added that the CMA “is obliged to investigate these developments, which have materially changed the environment assessed by the Competition Commission in ways that contradict its conclusions, and to reach a reasoned decision on their implications before imposing remedies on Ryanair – particularly where the remedy in question would be irreversible”.

Parties have until March 17 to respond to Ryanair’s statement, the CMA said.

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP March 5, 2015 16:48