Ryanair today said it was prepared to sell its 29% stake in rival Aer Lingus to any other European airline which managed to take control of the Irish flag carrier.
The announcement came as yet another salvo across the bows of the Competition Commission, poised to announce shortly that Ryanair should be forced to sell the stake it first began buying six years ago. The low-cost carrier, headed by Michael O’Leary, has been blocked three times from making a full bid for Aer Lingus.
A Ryanair spokesman said the commission’s latest concern was that the stake could be used to block any rival takeover, and added: “This bogus ‘concern’ has now been fatally undermined thereby removing any requirement for a divestment of Ryanair’s minority shareholding which even the commission now admits hasn’t given Ryanair any influence, and Aer Lingus admits has led to intensified competition to the benefit of the perhaps one or maybe two UK consumers who even fly Aer Lingus.”
The commission had said in May that Ryanair’s stake could lessen competition.
