Aer Lingus falls as Ryanair bid teeters - European airline share wrap
Aer Lingus shares fell 5% on Friday, despite a snap-back by European shares after a string of up to eight days of losses, on concerns Ryanair's bid for the Irish flag carrier may falter.
Ryanair CEO, Michael O'Leary, stated, "we don't intend to waste our time or that of the Irish government or EU Commission over the next six months, if Aer Lingus shareholders do not want the only offer currently available to them". Mr O'Leary added he was "open" to talks on the EUR1.40 per share offer price to reach an agreement, although any adjustment is likely to be small. Ryanair shares advanced 2.0%.
Shares in Spanish LCC, Vueling, soared 11.8%.
European selected airlines daily share price movements (% change): 16-Jan-09