Aer Lingus says no to Ryanair call for EGM
Friday, 31 August 2007
Aer Lingus has rejected Ryanair's request for an Extraordinary General Meeting of its shareholders.
A statement by the Board of Directors has said the resolutions would result in a breach of EU and competition law.
Ryanair which holds an almost thirty per cent stake in Aer Lingus called for the meeting following the announcement that Shannon to Heathrow flights are to end.
Aer Lingus has claimed that Michael O'Leary's airline is trying to exert influence in respect of its commercial strategy on affected routes.
Aer Lingus chairman John Sharman described Ryanair's proposed resolutions for the EGM as self-serving and motivated by its own commercial interests.
He has accusing Ryanair of trying to get round the EU blockage of the takeover by exerting influence on Aer Lingus via its minority shareholding.
Aer Lingus has claimed that under legal advice it would risk breaking competition law by holding the EGM.
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