4th Apr 2006 10:33
Ryanair Holdings PLC04 April 2006 CAA FIDDLES WHILE STANSTED BURNS Ryanair, Europe's largest low fares airline today (Tuesday, 4th April 2006)renewed its call for the CAA Regulator to take action against the overchargingBAA airport monopoly. For many years now the CAA has fudged ineffectually whilstthe BAA overspent on capital projects, giving rise to unnecessary priceincreases for consumers using the 3 main London airports. The latest proposals put forward last week by the BAA envisage that charges atStansted will triple as the BAA spends £4bn on a second runway at Stansted thatshould cost no more than £1bn. Commenting on these lunatic price increases being sought by the BAA, Ryanair'sChief Executive, Michael O'Leary said: "If ever proof were needed of the abject failure of the CAA to regulate the airport monopoly as it is legally obliged to do - "to promote the reasonable interests of users" - then these latest price increases demonstrate that failure. The very fact that an airport monopoly can seek the trebling of prices from an ineffectual regulator shows that the CAA's regulatory regime in the UK has failed. "Ryanair calls again on the UK Government to break up the BAA airport monopoly. If Stansted, Gatwick and Heathrow were competing against each other, then a second runway and terminal would be built at Stansted for less than £1bn and not the crazy £4bn presently being proposed by the BAA. "If the CAA is unwilling "to promote the reasonable interests of users" and if it fails to restrain the price gouging instincts of the BAA airport monopoly, then the CAA should stand aside and let competition deliver where regulation has so clearly failed". Ends. Tuesday, 4th April 2006 For reference: Peter Sherrard - Ryanair Pauline McAlester - Murray Consultants Tel: +353-1-8121228 Tel: +353-1-4980300 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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