Ryanair's Aer Lingus bid blocked
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The European Commission blocks low-cost airline Ryanair from making a bid for Ireland's Aer Lingus.
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Irish airline Aer Lingus is to be partly privatised next month, in a flotation expected to raise about Â£270m.
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Ryanair's surprise hostile takeover bid for Aer Lingus is difficult to understand given that the state plans to retain a blocking minority in the company, Irish Transport Minister Martin Cullen said.
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BUDGET airline Ryanair will fail to make a profit this winter as its aircraft fuel bill soars by as much as 50% after it admitted it had not taken action against the spiralling oil price.
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The Irish low-fare airline started a hostile bid for the Aer Lingus Group, in a move that could bring the budget carrier to the U.S.
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Irish airline Aer Lingus announced on Wednesday an order for 12 new Airbus airliners worth 2.4 billion dollars (1.78 billion euros) to boost its expansion on transatlantic routes.
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The chief executive of Ryanair, the brash-talking budget airline expanding across Europe, said Thursday he won't pay a single cent of a 4 million euro (&#36;4.8 million) fine imposed by European Union competition authorities.
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Business & money: Ryanair expected to announce it will appeal against ruling.
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Aer Lingus reported a loss in 2006 because of a pension fund shortfall, higher fuel prices and the cost of repelling a takeover attempt by Ryanair. Aer Lingus, which found itself under siege by Ryanair almost immediately after listing on the Irish and British stock exchanges in September, reported a net loss of 69.9 million euros ($92 million) for the year that ended Dec. 31, in contrast to a profit of 88.9 million euros in 2005. Exceptional expenses included a 104 million euros ($137 million) payment to the employeesâ pension fund and 16 million euros ($21 million) to lawyers, stockbrokers and other advisers hired to thwart Ryanairâs bid. Fuel costs also rose by 75 percent, to 234 million euros ($308 million). Sales rose 11.3 percent.
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An Aer Lingus flight from New York with 239 passengers aboard was evacuated in Ireland Friday following a threat against the aircraft, airport authorities said.
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Europe&#39;s two biggest low-cost airlines, Ryanair and easyJet, have stepped up their competition in Spain, forcing down fares and causing turbulence for the nation&#39;s domestic carriers like Iberia.
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Australian travel retailer Flight Center Ltd.  said its planned A$1.62 billion ($1.28 billion) management buy-out did not receive shareholder approval at a meeting on Wednesday.
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Ryanair chief executive Michael O&#39;Leary said Tuesday he expected EU regulators to block the Irish low cost carrier from taking over Irish airline Aer Lingus and vowed to appeal the decision.
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A staff trust holding over 12 percent of the shares of Aer Lingus have delivered a 97 percent rejection of the hostile takeover bid for the airline from Europe's biggest low-cost carrier Ryanair, according to a statement.
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The European Commission is likely to launch a competition probe this week into the hostile takeover bid of part-privatised Irish airline Aer Lingus by its low-cost compatriot Ryanair, sources close to the matter said.
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PARIS/MELBOURNE  - The world's airlines were forced to review growth plans and investors hammered the shares of Airbus parent EADS  on Wednesday after the European planemaker again pushed back deliveries of its A380 superjumbo.
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Australian travel retailer Flight  Center Ltd.  said its planned A$1.62 billion ($1.28  billion) management buy-out did not receive shareholder  approval at a meeting on Wednesday.