And how in gods name can Aer Lingus share value honestly effect Ryanairs profit....BULL SH1T!
apaddyinuk;
this is correct, Ryanair made a significant write down in the value of its share value of Aer Lingus, and that is because Aer Lingus is not now worth (in share value) the value that it was worth when Ryanair bought the shares.
MOL made it quite well known that a write down in the value of Aer Lingus shareholding would be relevant for the final results.
This is also a big issue for the group of Aer Lingus pilots who borrowed approx €10M to buy up Aer Lingus stocks to avoid Ryanair gaining a majority, they figures with the government share the employee share and their share it made sense. Sadly for them the shares have not performed and they now must repay about €1.3M this year to the lender for the initial loan... Hard times or what...