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07/01/2010
Ryanair Denies Third Aer Lingus Bid
Ryanair has waved off speculation it is preparing a third bid for Aer Lingus.
In a statement today, updating investors on it's year to date passenger figures, the budget airline said there was no truth or basis to recent Irish media speculation that Ryanair was preparing a third bid for Aer Lingus.
Ryanair’s Michael O'Leary said: "Our position on Aer Lingus remains unchanged. A third bid is highly unlikely unless or until the Irish Government decides to dispose of its 25% stake in this loss making, increasingly marginalised, regional carrier."
The no-frills carrier said it planned to return cash to its shareholders from 2013 as it cuts capital spending by more than 90% after pulling out of talks to buy 200 aircraft from Boeing.
According to today's statement, Ryanair's December traffic grew 12% to 4.9m, while annual traffic grew 13% to 65.3m for 2009.
Chief Executive Michael O'Leary said it expected its cash reserves of €2.5bn to grow 'substantially' by March 2013 due to the cutback in spending.
Meanwhile, Aer Lingus Group today formalised its code-share agreement with United Airlines to jointly operate scheduled service between Washington Dulles and Madrid, Spain.
The service will launch on 28 March and it is anticipated that additional routes may be made available for sale during 2010 to commence operation in Summer 2011.
(DW/GK)
In a statement today, updating investors on it's year to date passenger figures, the budget airline said there was no truth or basis to recent Irish media speculation that Ryanair was preparing a third bid for Aer Lingus.
Ryanair’s Michael O'Leary said: "Our position on Aer Lingus remains unchanged. A third bid is highly unlikely unless or until the Irish Government decides to dispose of its 25% stake in this loss making, increasingly marginalised, regional carrier."
The no-frills carrier said it planned to return cash to its shareholders from 2013 as it cuts capital spending by more than 90% after pulling out of talks to buy 200 aircraft from Boeing.
According to today's statement, Ryanair's December traffic grew 12% to 4.9m, while annual traffic grew 13% to 65.3m for 2009.
Chief Executive Michael O'Leary said it expected its cash reserves of €2.5bn to grow 'substantially' by March 2013 due to the cutback in spending.
Meanwhile, Aer Lingus Group today formalised its code-share agreement with United Airlines to jointly operate scheduled service between Washington Dulles and Madrid, Spain.
The service will launch on 28 March and it is anticipated that additional routes may be made available for sale during 2010 to commence operation in Summer 2011.
(DW/GK)
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