9-Jul-2010 12:28 PM

Aer Lingus rescue 'inevitable': Ryanair CEO

Ryanair CEO, Michael O’Leary, expects the carrier will inevitably be requested to “rescue” Aer Lingus and no other parties have shown interest in the carrier (Bloomberg, 08-Jul-2010). Ryanair owns 29.8% of Aer Lingus. The European Court of Justice recently rejected an appeal on the carrier’s 2007 takeover bid for Aer Lingus, but also ruled that Ryanair will not have to divest itself of its ownership stake.

Ryanair: "It's ultimately inevitable that Ryanair will be asked to rescue … We are the only people who are willing to rescue it. Nobody else wants it. Aer Lingus has no long-term strategy," Michael O’Leary, CEO. Source: Bloomberg, 08-Jul-2010.