3rd Mar 2015 14:38
LONDON (Alliance News) - Ryanair Holdings PLC on Tuesday submitted an appeal to the UK's Competition and Markets Authority to reconsider its 2013 decision ordering the low-cost carrier to sell down its stake in Aer Lingus Group PLC to 5%.
Ryanair said in its appeal that the fact International Consolidated Airlines Group, the owner of British Airways, has secured the support of the Aer Lingus board for a EUR1.36 billion takeover offer disproves the point made by the competition regulator that Ryanair's 30% stake in the Irish flag carrier would be a deterrent to Aer Lingus merging or being taken over by another carrier.
Ryanair said it is confident that a re-examination of the case would vindicate its position and would make the Competition and Markets Authority overturn the decision made by the Competition Commission in 2013.
Ryanair shares were up 0.2% to EUR9.957 on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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