Ryanair lines up concession

City A.M. Reporter
RYANAIR has agreed the possibility of transferring some of its routes and aircraft to smaller operator Flybe in order to win the European Commission’s approval for its Aer Lingus bid.

Flybe confirmed yesterday that Ryanair had agreed in principle to create a new company, into which business assets and cash of €100m (£86.2m) would be transferred and which Flybe would then acquire.

Ryanair is making its third takeover attempt of Aer Lingus and needs to make concessions to keep competition on Irish routes.