Aer Lingus defends Ryanair hostilities - European share price wrap

Aer Lingus has mounted a strong defence against Ryanair's EUR748 million takeover offer, stating it expects to be profitable in 2008 and beyond and announcing the resumption of Shannon-London Heathrow services. Restoring the Heathrow link will help win hearts and minds in the Irish Government, but much more work needs to be done by the Irish flag carrier in the coming weeks to convince the government not to sell its shareholding.