Business News

Dec 1, 2008, 7:41 GMT

Ryanair launches fresh takeover bid for Irish carrier Aer Lingus

Dublin - Irish low-cost airline Ryanair announced a fresh bid to take over 100 per cent of privatized Irish national carrier Aer Lingus on Monday. Ryanair said in a statement that it was offering 1.40 euros (1.78 dollars) per share in Aer Lingus, which it claimed would be worth 325 million euros in cash to shareholders, employees and the Irish government, which owns just over 25 per cent of the airline. The offer 'will lead to one strong Irish airline group, lower fares for customers, rapid fleet growth and 1,000 new jobs in Aer Lingus.' Ryanair said it would double the size of Aer Lingus' short-haul fleet from 33 to 66 aircraft over the next five years, which would create the jobs. Ryanair is a major shareholder in Aer Lingus with a 29.8-per-cent stake in the company. Aer Lingus reported a loss of 22.3 million euros for the first six months of 2008, down from a profit of 2.6 million euros in the same period of 2007, owing to the rise in the cost of fuel, the company said. The company is currently in dispute with its employees over a cost-cutting plan. Ryanair's previous offer from September 2006 to take over Aer Lingus was rejected by the European Commission as uncompetitive. It was also resisted by the Irish government, which had just floated the airline at the time. The 2006 offer is currently under appeal at the European Court of First Instance.

And Also

Look Back at the Worst Celebrity Breakups

Look Back at the Worst Celebrity Breakups - PopEater
GASP: Goldstriker creates world's most expensive iPhone - The Tech Herald
Paramount Nabs Area 51 US Distribution Rights - Cinema Blend
Brad Pitt's New Orleans Project Gets Mixed Reviews - PopEater
A&E series 'Hoarders' and 'Intervention' premiere Monday, Nov. 30th, preview

Your Talkback on this Story

Similar articles

Ryanair reports profits, warns Boeing to cut plane prices (Roundup)
Ryanair reports half-year profits but warns of full-year loss
(eca 041): Aer Lingus deep in the red in first half of 2009
Aer Lingus deep in the red in first half of 2009
Union at Irish carrier Aer Lingus holds ballot on cost-cutting

Latest Headlines in Business

Older Talkback

Business: Index

: News; Features; Currency Conversion

Latest Pics

From Sites we Like

The choice is to save your wife or your son. This man had to make that choice. What would you do? [Sad]
While news organizations were trying to figure out how two people slipped past the Secret Service to crash a state dinner, CNN was scooping them all on the real story of the day: Menugate [Fail]
Who knew hospitals had cannons? [Amusing]

More Not News from Fark

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills; Celebrity Video; Music Video
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2009 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint