Aer Lingus May Buy Back Ryanair Shares

AER Lingus is considering buying back the shares owned by Ryanair, if the EU formally blocks the low-frills airline takeover bid.

Chief executive Dermot Mannion said over the weekend that he would be prepared to sit down with Ryanair and listen to its suggestions.

Ryanair has spent E345million acquiring more than a quarter of the Aer Lingus shareholding in mounting an abortive bid for the airline last year.

The EU’s competition commission is due to deliver its verdict soon with many in the industry speculating that it will reject the proposal on competition grounds.

Ryanair and Aer Lingus compete on a number of direct flights and to a number of airports in the same regions.

It is thought that any takeover would push up prices on these flights.

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