Algol,
I disagree that enormous money was wasted. This is not a pro or anti Ryanair commentary btw...
It was a very worthwhile pursuit to try and aquire EI on Ryanair's part. Into the bargain, FR certainly distracted the business of EI management to the point where FR's interest was a constant pressure. Yes if FR had put the money in the bank it would have earned more but at least they are recouping the original investment.... Got a fair bit of
PR coverage too in the mean time...