4th Nov 2008 12:09
Competition Commission Report Confirms Need to Break-up BAA Monopoly
Ryanair, Europe's largest low fares carrier, today (4th Nov) warned that the Competition Commission's (CC) report on the Price Review for Stansted underlines the urgent need for Stansted airport to be sold by the BAA monopoly which currently controls London's main airports. The price increases identified in the CC's report further reward the BAA monopoly and will further reduce passenger numbers at Stansted Airport.
Speaking today, Jim Callaghan, Ryanair, said:
"The Competition Commission is hamstrung by the current failed regulatory system which has allowed the BAA monopoly to build up huge amounts of unnecessary capital expenditure over the years. This Taj Mahal approach to expenditure rewards the airport monopoly with higher charges to the travelling public.
The CC had recommended the sale of two London airports in its earlier report noting that BAA's joint ownership of the three main London airports and the flawed regulatory system were having a highly negative effect on competition. It is now clear that BAA needs to be forced to immediately sell off Stansted airport in order to allow the market to introduce lower prices and better services for consumers.
Ryanair will continue to work with the CC to ensure that Stansted is sold off as soon as possible."
Ends. Tuesday, 4th November 2008
For further information
Please contact:
Stephen McNamara Pauline McAlester
Ryanair Ltd Murray Consultants
Tel: +353-1-8121212 Tel. +353-1-4980300
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