My take on things.
If bid is successful MOL gets his hands on all the cash EI has raised from the IPO. Therefore in reality it’s not costing MOL as much as he would like us to believe. Once he takes control he will run both airlines as separate entities but will in time move the EI short-haul operation to Ryanair. Replace the Airbus’s with 738’s. He will retain the EI brand on long haul and expand it using the low cost model. I bet he will get an excellent price from Boeing on shiny new 777’s (if it hasn’t happened already). In order to make the deal a little sweeter I suspect that he will increase his offer per share to somewhere in the region of €3 plus but not as much as some have stated. Also EI currently owns a lot of property around Dublin Airport. I bet he will sell the lot for a pretty penny.
I bet MOL is in for the long haul (speaking in terms of time on this). As seem from his past he doesn’t waste his energy. Not withstanding the fact that he uses questionable human resources practices (for these I think he is a ****) you have to admire the man for his endeavour. If there is one thing we know about MOL is that he loves himself. I bet he wont rest until Ryanair are not just a dominant European player...but a dominant global player.
I would ask the readers to take a look at the EI website and take a look at the CV’s of the senior management team. Barring one or two exceptions I question whether this team has the “capacity” to manage this airline successfully both now in defending it and if successful over the next couple of years.
Where I come from we use the term “capacity” as a polite means to describe people who are just not up to the job