Ryanair Update On Aer Lingus
RYANAIR UPDATE ON AER LINGUS.
Further to Ryanair’s Q3 results announcement issued today (Jan 28), the following is an update in relation to the Aer Lingus offer:
Ryanair’s CEO Michael O’Leary Said:
“Ryanair has submitted a radical and unprecedented remedies package to the EU in support of its offer for Aer Lingus. We believe these remedies address every current Ryanair\Aer Lingus crossover route and all other competition issues raised by the Commission in its Statement of Objections. The remedies involve two upfront buyers each basing aircraft in Ireland to takeover and operate a substantial part of Aer Lingus’ existing route network and short-haul business. This will be the first EU airline merger which will deliver structural divestitures and multiple upfront buyers. We look forward to completing our offer for Aer Lingus subject to receiving approval from the EU competition authorities in early March”.
For further information Howard Millar Joe Carmody
please contact: Ryanair Holdings plc Edelman
This announcement does not constitute an offer or an invitation to offer to purchase or subscribe for any securities.
The source of information in relation to the IAG acquisition of BMI, to Air France-KLM’s acquisition of a 25% interest in Alitalia and to Lufthansa acquisitions is as previously stated in the Offer Document issued by Ryanair dated 17 July, 2012 . The source of information relating to Aegean Airlines and its proposed merger with Olympic Air is the announcement issued by Aegean Airlines dated 22 October, 2012 and the source of information relating to the sale of TAP is the announcement issued by the Portuguese government dated 18 October, 2012.