23 December 2008

Aer Lingus rejects latest Ryanair bid

Aer Lingus has rebuffed a revised hostile Ryanair bid.

In a strong defence document, the Irish flag carrier accused its budget rival of "opportunistically attempting to capitalise on current market fears and uncertainties to profit from our proven business model and gan access toÃ~our huge csh resources and valuable assets."

It goes on to say: "Do not let this rip-off happen."

Aer Lingus also revealed it was resuming flights on the Heathrow-Shannon route dropped when the airline started a hub in Belfast.

The airline urged shareholders to reject Ryanair's unsolicited offer, claiming it has a "vibrant independent future".

The Heathrow-Shannon service will be reinstated in March 29 with two flights a day. It has come about through a combination of staff cost savings, a new deal on charges at Shannon airport and reduced fuel prices.

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by Phil Davies

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