Aer Lingus deal blocked by EU February 27, 2013 The European Commission has blocked Ryanair's £600m deal to acquire Aer Lingus citing competition concerns. "The Commission's decision protects more than 11 million Irish and European passengers who travel each year to and from Dublin, Cork, Knock and Shannon. For them, the acquisition of Aer Lingus by Ryanair would have most likely led to [...]
Europe blocks Ryanair’s bid February 12, 2013 RYANAIR’S latest attempt to take over Irish rival Aer Lingus has been scuppered by the European Commission. The budget airline said it will appeal after the Commission indicated during a “state of play” meeting that it will prohibit the €694m (£597m) takeover. Ryanair had argued that its offer to give 43 short-haul routes and €100m [...]
Aer Lingus insists it can fend off Ryanair bid as its earnings soar February 6, 2013 IRISH flag carrier Aer Lingus yesterday insisted it could survive as an independent company and said the hostile takeover bid from rival Ryanair was unlikely to make it past European competition authorities. “It seems to me so farfetched, this proposition, that we don’t bother wasting our time on it,” Aer Lingus chief executive Christoph Mueller [...]
Hargreaves Lansdown lifts FTSE 100 February 6, 2013 The FTSE 100 pushed back over the 6,300 level this morning, as investment manager Hargreaves Lansdown topped the index, rising more than seven per cent. This morning the company reported robust growth, with revenue up almost a quarter in the six months to December and pre-tax profit up 30 per cent over the period. “Customer [...]
Flybe and Ryanair agree new airline deal February 6, 2013 Low-cost carrier Flybe has agreed to partner with Ryanair to create Flybe Ireland if Ryanair’s takeover of Aer Lingus is green-lit. Flybe said this morning that it had reached agreement with Ryanair over the possible transfer of a number of aircraft and operating routes as part of a remedy package to win approval from the [...]
Ryanair lines up concession February 5, 2013 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 [...]
British Airways carries IAG stats February 5, 2013 International Airlines Group posted a slight rise in January traffic, as strong growth at British Airways again made up for weakness at Spain’s Iberia. Traffic, measured in revenue passenger kilometres, rose 0.7 per cent versus January 2012 on capacity one per cent lower. IAG said its first and business-class travel, the most profitable part of [...]
What the other papers say this morning February 4, 2013 FINANCIAL TIMES Whitehall departments face big cuts Several government departments will have lost more than £3 in every £10 they once had available for spending, by the time of the next election, according to Financial Times research. SGX in talks over LCH.Clearnet stake SGX, the Singapore stock exchange, is in discussions about taking a stake [...]
Axe tax and lift growth, airlines urge Osborne February 4, 2013 SCRAPPING air passenger duty (APD) would end up benefiting the public purse, according to research conducted by PwC and commissioned by airlines. If the government ended the controversial levy on air travellers entering or leaving the UK, the subsequent boost to businesses could lift GDP by 0.46 per cent this year, the study by PwC [...]
Ryanair loses compensation case January 31, 2013 Irish budget carrier Ryanair has been ordered by Europe’s top court to compensate passengers delayed by a volcanic ash cloud in Iceland in 2010, in a ruling that could expose other airlines to similar claims from disgruntled travellers. The court said EU rules require airlines to compensate travellers for delays caused by unforeseen events. Ryanair [...]