RYANAIR DEFENDS STAKE IN AER LINGUS TO UK OFT

Ryanair has continued to defend its right to hold a minority stake in Aer Lingus by legally challenging a UK Office of Fair Trading investigation. Ryanair claims the regulator has waited too long to investigate its 30% stake in its Irish rival some four years after it was bought. The OFT says it needs to investigate whether Ryanair’s stake gives it “material influence” over a competitor’s commercial policy in a way that could lessen competition and raise prices. In June 2007, the European Commission halted Ryanair proposed takeover of Aer Lingus. Because Ryanair tried to overturn the decision, the OFT