28/08/2013

Ryanair Told To Reduce Aer Lingus Stake

Ryanair has been told that it must reduce its stake in Aer Lingus from 29.8% to 5%.

The UK Competition Commission (UKCC) made the demand of the airline, as well as informing them that they are not to seek or accept board representation at Aer Lingus, or try to acquire any further shares.

It is understood that Ryanair boss, Michael O'Leary had expected the UKCC ruling to be negative, stating ahead of the announcement that he would challenge such a ruling.

The decision from the UKCC comes amid concerns that O'Leary's stake in Aer Lingus had, or could lead to, "a lessening of competition between the airlines on routes between Great Britain and Ireland".

A claim which O'Leary is reported to have said has been "manifestly disproven by seven years of evidence".

(MH/JP)

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