Ryanair chief hits out at CMA

admin
By admin May 15, 2015 13:43

Ryanair chief hits out at CMA

Ryanair chief executive Michael O’Leary has criticised the UK’s Competition and Markets Authority (CMA) for attempting to force the airline to sell most of its stake in Aer Lingus.

In April, the CMA upheld a 2013 ruling that Ryanair is to cut its stake in Aer Lingus to no more than 5%.

O’Leary has called the CMA decision “manifestly absurd” and due to the IAG bid for Aer Lingus is now “hopelessly wrong” since it negates the CMA reasoning that its stake in Aer Lingus would put off other airlines from bidding for it.

He added: “The CMA’s original invented claim that Ryanair’s shareholding continues to prevent potential airline partners from approaching Aer Lingus, is now proven to be false and irrational in light of IAG’s proposed takeover bid for Aer Lingus.”

admin
By admin May 15, 2015 13:43