The Aer Lingus pilots who bought the shares may have just made a huge mistake. According to an article I read they have made themselves liable allegations that they along with the ESOT and the Irish government may be acting in concert. Ryanair might very well report them to the Takeover Panel and it is possible that, as they own over 42% of the shares between them, may be forced to bid for the other 58% of the shares at 3.05 Euro a piece. That could cost 634m Euro. According to the writer this is unlikely but the pilots may in fact be forced to sell their shares and guess who is in the market for shares right now?
The pilots may have shot themselves in the foot!
