Battling to save his skin.............
You really live in a different world.
Oh, a bit rhetorical, perhaps. But the situation he now faces is really not a pleasant one. He has egg on his face (just another metaphor, in case you feel like checking).
Ryanair forced to divest can sell to anybody and that includes MO'L. Finding financial backers won't be a problem.
You know what? I think that's a BRILLIANT idea!
Finally Mr.O'Leary gets to take PERSONAL responsibility for the cost of his mistake! Instead of his poor shareholders, let him shoulder the losses himself!
At 1.10'ísh per share the current capitalised value of EI is about 620M, so the 29% FR holding will cost him around 180M. Where will he get 180M?
well his net worth is around 275M according to Irelands 'Rich List' - so he can afford to pay for it himself, with change left over!
Or, as you suggest, he could look for Finance.
What would be the repayments per month on 180M?
I calculate it to be 3.15M at 1.75%.
That wipes him out in 7 years. Not a very smart move. Not very Michael O'Leary'ísh.
Of course he might look for a 'White Knight' to tap.
But is anyone outside FR seriously interested in taking a punt of that nature? I doubt it. And if it was someone INSIDE FR - I can see all sorts of legal difficulties arising, especially with the UK CA. The Irish Stock Market rules might throw a spanner in it too. Conflict of interest? Acting in Concert? Choose your poison....
In fairness there's also the argument that, if he's going to make amends properly, he should repay the full cost of his misadventure. He bought at around 2.90 per share, so the bill should really come to 475M or thereabouts.
Really good idea though. I hope he pulls it off, and loses his fortune in the process.
Which country is that ? The one you live in ?
No, Ireland! We're talking about The Irish State Shareholding here, right? Not my address....or did you get a bit distracted?
Dunno but don't see Ryanair having much to do with New York ...........yet
Oh?
And who is the Chairman of The Board?
Your knowledge is a bit deficient for one so fervent in his admiration.
As for claiming it doesn't pay its taxes then do hope you provide some facts on it, you know the kind that stand up to scrutiny and not just made up hearsay.
Did you know that the mega profitable FR had the same tax bill last year as little ole PAYE taxpayer Micko? How can that be? I'm sure it's all above board of course! I'm 100% behind you. How dare those nasty internet denizens and journo's make accusations about FR's taxes. They should be bloody sued right away for daring to post this kind of tripe:
Ryanair boss faces investigation into alleged tax evasion in Italy | Business | guardian.co.uk
That Italian judge should be fired too, don't you agree?