Belfast Telegraph

Monday 22 September 2014

Ryanair is warned over stake in airline

Ryanair boss Michael O'Leary vowed to appeal any final decision that it will have to reduce its stake in Aer Lingus
Ryanair boss Michael O'Leary vowed to appeal any final decision that it will have to reduce its stake in Aer Lingus

Low-cost airline Ryanair could be forced to sell-down its stake in rival Aer Lingus after the competition watchdog said it potentially distorted the market for flights between the Republic and Britain.

The UK's Competition Commission said in provisional findings that Ryanair's 29.8% shareholding in Aer Lingus was likely to "weaken its main competitor" and could hold it back from remaining competitive by threatening to block any merger or acquisition deals with other airlines.

Ryanair boss Michael O'Leary vowed to appeal any final decision to reduce its stake in Aer Lingus, claiming the initial findings were "bizarre and manifestly wrong".

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