15th Apr 2008 12:10
Ryanair Holdings PLC15 April 2008 RYANAIR TO WITHHOLD STANSTED PRICE INCREASES Ryanair, Europe's largest low fares airline, today (Tuesday, 15th April 2008)confirmed that it has written to the BAA Stansted (on 7th April) objecting tothe proposed 7% increase in passenger charges at Stansted, which are completelyunjustified, coming as they do on the back of a 100% increase in passengercharges imposed by the BAA Stansted monopoly in April 2007. These two CAAapproved price increases amount to a 107% passenger charge increase over a 12month period - that is 35 times the current rate of inflation! The BAA monopolyis also looking for another unjustified 100% increase in charges at Stanstedover the next five years. Ryanair is still awaiting a response to its letter to the management of the BAAairport monopoly, but if BAA Stansted continues to abuse it's monopoly power byimposing these maximum allowed price increases, then Ryanair will launchjudicial review proceedings and it will withhold these latest increases (puttingthem in an escrow account) until the outcome of its judicial review proceedingsat Stantsed. Speaking today, Ryanair's Michael O'Leary said: "These latest unjustified price hikes by the BAA airport monopoly prove that it is abusing its monopoly power over passengers and airlines at Stansted. They also prove that the CAA is an incompetent and incapable regulator which has yet again put the financial needs of the Spanish owned BAA airport operator above the interests of airport users and consumers which it is obliged by law to protect. "There is no obligation on the BAA monopoly to increase its prices up to the maximum permitted cap, yet it continues to do so despite the fact that it already benefits from traffic figures which are way ahead of forecast at Stansted, and Capex spending that is way behind budget. Yet again, passengers at Stansted are being forced to pay significantly higher airport charges for the dubious pleasure of being stuck in long security queues, never ending passport queues and repeated baggage belt failures at Stansted airport. "T5 doesn't work, Stansted Airport doesn't work, the BAA airport monopoly doesn't work in the interests of consumers, and it's now time that the Competition Commission and the British Government broke up this foreign owned, failed, anti consumer monopoly, and got rid of the incompetent, ineffective CAA regulator". Ends. Tuesday, 15th April 2008 For reference: Peter Sherrard Pauline McAlester Ryanair Murray Consultants Tel: +353-1-8121598 Tel: +353-1-4980300 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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