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Ryanair Putting in Bid on Aer Lingus

Ryanair, well-known for its offer of cheap flights throughout Europe, has put in an offer of $136 million to the Flybe Group to operate nearly half of Aer Lingus’ short-haul business.  This new move is the latest as Ryanair is vying for approval from the European Union to buy up the rival airline.  Under the new deal, the Flybe Group would take over 43 Aer Lingus routes, which includes taking over ten aircraft and their crews.

 

It would be a binding agreement that would be filed with the European Commission.  As part of the agreement and as an act of commitment to its intent, Ryanair would give up 20 million euros of pre-tax profits, a move that is unprecedented according to David Holohan, an analyst with Dublin-based Merrion Capital.  Businessweek has reported that the European Commission has said Ryanair has one more chanceto discuss their bid for Aer Lingus.

The above article is a summary.  Please see the source article at Google News.

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