90- or 120-min turnaround and if you're the only operator on theroute, punters will have to make do with the times.

Lots of RYA routes are only one or two a day at godforsaken times... but they still manage to get enough bums on seats to turn a profit.

This link shows the procedures required to dispose of the LHR slots.
http://www.ise.ie/app/announcementDe...asp?ID=1309588
It seems to make the disposal "difficult" and therefore presumably the value , in Asset terms, lower than it would be should they be available to sell

Hi all
How is MoL supposed to deal with pilots? They hold all the chips in EI;strongest union, IALPA( SIPTU are only blowhards,they always give in, in the end, to the Company.IALPA know their strength and almost always win their fights); greatest shareholding of EI shares as well as having the best terms and conditions of all the workforce, (bar top management). The staff might shout and puff but in the end, they'll either be lured by a money offer for their ESOT shares or simply be let go on reduced redundo terms.Of the engineers and pilots, only those with 737 Types are of immediate value for short-haul.
The Government wants to keep it's 25% share.Let them. Mol only needs 51%, which is within reach.Once he gets that, he might simply turn around and offload it to Emirates, which, I suspect, is what Mannion wants anyway....After that, we're ******.
regards from the toolshed
TDD

Seeing that Ryanair has never paid a dividend I think your choice would be a bad one. I feel very sad for the Irish that their state airline could end up in the hands of someone like MOL who would cheapen the brand if he kept the brand at all.

Rumours this afternoon say a certain Middle Eastern company is trading heavily for EI shares.

TwoDeadDogs.

You need more than 51% under company law I think? Just because you get to that amount doesn't mean you can do what you want. Flying Lawyer probably knows a bit about it?

I can't remember the % but it is a heck of an amount higher than that. I think the MAN UTD Glazer's thing was closer to the nineties mark before total control was gained? I'm just guessing though to be honest.:confused:

alibaba,

I think you have something there. Company articles are not necessarily like a straightforward democracy. 50.1% does not guarantee outright control in some circumstances. Interesting to see what the situation with Aer Lingus is.

Also I think the goverment put something in the sale that ring-fenced the slots so they could not be sold off by potential asset strippers.

Can anyone shed any more light on the stock trading this afternoon, hearing conflicting rumours about who is buying what?

The Board of Aer Lingus has just rejected the bid.

Dr Dave

Game on !!
 

Yes ,

But now its Game On !!

The whole world of Mergers and Acquisitions is now in play.

75 % will never be achievable so there goes that Special Resolution angle.

51 % plus should be possible.

Will there be a White Knight ?

Watch this Space !!


Eolas

Here's an idea............

Buy 200 million euro worth of shares.

Make announcment that you are attempting to buy out Aer Lingus.

Sit back and watch share price go through the roof.

Sell shares tomorrow morning and make a handsome 50 million overnight!

Air Lingus Rejects Bid!
 

As someone else said, I should have seen this coming. It's a remarkable stunt. It's a win win situation for MOL. If he succeeds he gets control of the flag carrier and one of the most famous logos in the business. Could we see the FR fleet repainted in a pretty shade of green? Never forget the status Aer Lingus still holds in Ireland. Comments from moronic politicians and unions stating that a Ryanair takeover would be bad for the country prove that. That's a throwback to the days when airlines were virtually an arm of the state. FR kicked that notion into touch some time ago.

Motivations: Embarrass the government: Get hands on LHR slots and sell them to highest bidder. FR would never fly into LHR: Acquire long haul, plenty of potential profit in long haul and frankly a Napoleonic ambition to control Europe with it's fleet of blue coated soldiers. I think 'Michaelomania' is the appropriate term here.

And make money.

If the bid fails, FR can sell it's shares and destroy the price and still make a profit.

You have to laugh really. What a diabolical plot:D I remember when the the sell off was been discussed. The unions and others were worried about a foreign takeover of EI. But they were all ignoring the elephant in the room, literally. The Ryanair juggernaut continues.

I'm not sure of the exact figure, but under british company law you need about 90% of the shares for your takeover to become unconditional, i.e. you can acquire the outstanding shares at the offer price, whether the remaining shareholders like it or not.
51% of the shares gives you 51% of the shareholders votes at AGM's, EGM's etc. It doesn't necessarily give you control over the company - life's not that simple.
If only....
That many shares coming onto the market at once would cause the price to fall sharply, wiping out a lot of the previous gains. Even if they were sold piecemeal, once the markets realised there was an 'overhang' of shares, the share price would be depressed. In fact the effect would probably be compounded, once the penny dropped that there wasn't a takeover after all.

Where did you hear that? It would make perfect sense - what MoL was saying on the conference call about applying his low-cost carrier model onto Aer Lingus and leave everything as is (including LHR slots) is, quite frankly, bullsh*t!

Here's the math part:
Aer Lingus has roughly €1 billion of cash
The value of their slots at LHR would probably fetch at least €500m in an open auction to the highest bidder.
That works out to about €2.90/share, over €0.10 more than MoL is offering and then of course there's the value to the rest of the business...

Clever move. Cue up the bidding war! Time to fasten those seatbelts, could be a few bumps ahead! :\

Ryanair announces 10 new routes from Nottingham East Midlands
 

Ryanair announces news routes of EMA to:
Alghero (Sardinia), Bartislava, Knock, Milan, Valencia, Granada, Inverness, Krakow. Pisa and Santiago

Also based three new Boeing 737 800

...tie up with Aer Lingus would open the door for the Longhaul, though. Keep the slots, get these 777s and crash the Longhaul market!!

Aer Lingus rejects Ryanair offer
 

** Aer Lingus rejects Ryanair offer **
Irish airline Aer Lingus rejects a 1.48bn euro (£1bn; $1.9bn) takeover offer from budget rival Ryanair.
< http://news.bbc.co.uk/go/em/fr/-/1/hi/business/5408780.stm >

BR.

Ooops! Same as previous posted earlier...

I was listening to the Joooooooooooe Duffy show here in UK via 252LW.

Very entertaining listening. Especially the pilot who was named as "joe" who works for FR that said he wasnt affraid of O'Leary... Fair play to this pilot, i was very impressed, came across well dude. :D

Needless to say my views on the matter are that O'Leary is just causing a media uproar. Dont think he will go trough with the full deal....:ugh:

This is just a PR stunt and regardless of whether the Irish Government allow him to buy the majority stake or not, i dont think it will actually happen.

Either way, my dreams of one day flying for Shamrock will be shattered if it does happen. Would not like to be stuck working for him, although when it comes to a career in aviation i know beggers cant be choosers!

Clever boy!
 

This is one of MOL's masterstrokes. Cant any body see it? Now he will be in a position to push AF/KLM, BA, LH, from both sides.

"Low fares, around Europe, for you and your family sir?" get ready to push...the 738 is about to land.

"High fares, good service, sir?" The green planes are right this way.


I personally think that EI and FR would be kept completely seperate, as unions at FR would spell trouble.The two companies are quite complementary, and most of the competition is on the newer FR routes.

With the right product mix EI could make a ton of money on long-haul routes, and I think the key to utilisation is to have long-haul routes to the east and west. FR can afford to bankroll this, lets face it EI cannot.
Long haul is going to go LO-CO, im sure of it, but would many airlines bother to compete if they knew their compeditor had such deep pockets, and compeditive ethos?
MOL sees an oppertunity to launch a long haul network carrier which will also have a small(ish), but profitable euro and UK route network.

Perhaps the signs in DUB for the A350 were somewhat permature!:}