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Ryanair to reduce stakes in Aer Lingus – Compare travel insurance!

Ryanair’s Chief Executive Michael O’Leary received a negative result from the UK Competition Commission (UKCC) today as he was told to reduce his minority 29.8% stake in Aer Lingus to 5%. The UKCC claimed that such a stake in Aer Lingus had led or may be expected to lead to a substantial lessening of competition on routes between the UK and Ireland. Michael had been expecting this result but said in a statement that he plans to challenge the commission’s decision. On the other hand, Aer Lingus’ Chairman Colm Barrington welcomed the outcome as he said it was unacceptable that the airline’s main competitor was allowed to remain on it’s share register.

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