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!! Ryanair Makes 3rd Bid For Aer Lingus !!
Just heard it on RTE news, announced to the Irish Stock exchange a few minutes ago.
Ryanair makes all cash offer for Aer Lingus valuing the airline at €649m - RT News Ryanair makes all cash offer for Aer Lingus valuing the airline at €649m |
Already posted in Aer Lingus thread - http://www.pprune.org/airlines-airpo...us-6-a-31.html
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Probably deseves its own thread!
Well here we go again :rolleyes: |
o dear does MOL have lots of cash laying about as he can't agree a new plane order although what he is offering for EI wouldn't make much differance to there accounts. Why even make the offer other than to get PR as everybody knows it will never happen....
If it went ahead they would have market share of 84% at Cork, 78% at Dublin and 64% at Shannon. |
Given LH can buy who it likes, BA likewise and get UK govt always approving, Air France doing what it likes in connivance with Franch state then FR taking over EI is a small event................apart from on here where western civilisation is threatened forever.
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Ryanair makes cash bid for Aer Lingus
http://www.rte.ie/news/2012/0619/ryanair-makes-all-cash-offer-for-aer-lingus.html
End of Aer Lingus as we know it? :( |
One flag carrier buying up another with little overlap in business is totally different to wiping out pretty much your only oponant. The big green monster that MOL just can't beat!
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Irelands main carrier, Ryanair, no competiton, no alternative. Racedo, seriously, come on, BA, AF and LH are legacy network, EI is half way to a loco, FR is beyond loco in it's own dark dimension. You are comparing apples with .....cyanide?
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We have to be realistic here and accept we will not see a negative response in regard to Ryanair from racedo, so accept his stance whether we agree or not, it won't change.
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Highly unlikely. O'Leary has made so many friends in Government(Dublin), Brussels ,London and Abu Dhabi that they are unlikely to let him get his way. This is called Karma :p and its about time it gave MOL some payback ....:ok:. Last time he tried this stunt he lost so much money the board nearly had his job:E
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........nope, this being their 3rd bid, when it fails, they are precluded from further bids under stock exchange rules. It's just the end of RYR messing with EI.
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The Government are coming under pressure to block it and its speculated that Ryanair are doing it so they can get rid of there share in the airline and get 200 million of the 400 million they spent on shares back.
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Its all publicity as well!
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Irelands main carrier, Ryanair, no competiton, no alternative. Racedo, seriously, come on, BA, AF and LH are legacy network, EI is half way to a loco, FR is beyond loco in it's own dark dimension. You are comparing apples with .....cyanide? There is something else in play at the timing if you know how to read it. As for the BA / LH / AF all supported and allowed do what they want by their Govts. |
Last time he tried this stunt he lost so much money the board nearly had his jobhttp://images.ibsrv.net/ibsrv/res/sr...ilies/evil.gif Who came out of it better EI or FR ? |
As an Irish consumer, Ryanair's arrival to the market brought greater choice and price competition (although they do now tend to ward off new entrants).
But, I don't relish the prospect of FR taking over EI. Anyone here remember Buzz? January 2003, The Daily Mail Ryanair Chief Executive Micheal O'Leary said: 'The timing of this acquisition is opportunistic. Since Ryanair is growing strongly by rolling out our lowest fare services all over Europe, the last thing we need is the distraction of an acquisition. 'However, there are a number of features of buzz which makes this a favourable move at this time'. He described the deal as 'a bargain, if we can - as we expect - turn it around in one year'. True low cost: Ryanair buy buzz for a 'bargain' £15m | Mail Online February 2003, The Guardian The budget airline Ryanair announced today it was axing 12 routes and cutting 400 jobs on its rival carrier Buzz, which it is taking over on April 1. Ryanair also confirmed that it was grounding all Buzz flights "for the month of April 2003, at least". The Irish low-cost airline added that a final decision would follow soon "on whether to restart [Buzz] flying on May 1, or close Buzz altogether". March 2003, The Guardian The future of Buzz was on a knife-edge last night, as many staff refused to meet a 6pm deadline to sign new contracts offered by Ryanair, which is buying the struggling low-cost airline for £15m. Ryanair's chairman, Michael O'Leary, has threatened to close the airline unless staff comply with his terms. He will announce on Monday whether he is pressing ahead with his threat. Buzz continued on for another 18 months before being killed off. I wonder would EI last as long under FR's ownership. |
It certainly will distract EI on the proposed move to BHD
If Ryanair do win, close EI and "persuade" all Irish airport operators to give them a better deal. Mr Ambrose at BHD must be reaching for the phone and a glass of the hard stuff at this news.
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I would suspect that the competition referral last Monday has prompted today's announcement. It seems to me that whoever is advising Ryanair has expressed concern about a possible negative outcome from the UK Competitions crowd. Better to put your cards on the table now before any ruling and get a reasonable price for their investment or risk a forced sale at below market value in the future. It might force another investors hand. Can't see any other reason for such a move other than this.
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I think Lord Lardy has it spot on, FR see a possible stumbling block ahead so create a fuss to raise shareprice so they get out with a little more than they expected a few months back.
As for the figure of E694M, according to the last set of EI results they have over 1 Billion Euro in cash reserves. (Plus 60% of their aircraft owned rather than leased) |
On mature reflection I hope this proposed takeover fails. As one who relies on Ryanair to get me to my destinations on time every time and at a (mostly) reasonable price I certainly do not want their operations to be contaminated by the culture of Aer Lingus trade unions. Remind me whose turn it was to threaten yet another strike action this week.
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