CALLS ON AVIATION REGULATOR

Ryanair Holdings PLC
21 June 2007

This announcement replaces RNS 7910Y released at 13:12 today.


                      RYANAIR CALLS ON AVIATION REGULATOR
                         TO BLOCK GOLD PLATED TERMINAL
                         OR MAKE AER LINGUS PAY FOR IT

Ryanair, Ireland's national airline, today (Thursday, 21st June 2007) filed
comments on the Commission for Aviation Regulation's ('CAR's') Draft Decision on
the Review of Airport Charges. Ryanair called on CAR to either block DAA's gold
plated plans for the €850m Second Terminal at Dublin Airport, as it is the wrong
size, in the wrong location and wrong cost, or force Aer Lingus, who will occupy
the massively oversized and grossly expensive facility, to pay for it. Ryanair's
passengers should not be forced to pay higher charges for a terminal they will
never use. The CAR's own consultants have now confirmed what Ryanair has been
saying all along, i.e., that the size of T2 is between 32% and 56% too big and
too expensive.

Ryanair also criticised the CAR for its inaction over the past two years, which
has allowed the airport monopoly to more than double planned capital expenditure
(from €571m. to €1,178m.), increase the size of T2 by 50% (from 50,000m2 to over
75,000m2), with the costs more than quadrupling (from between €170m.- €200m. to
over €850m.).

Commenting on the CAR's Draft Decision and Ryanair's response, Ryanair's Head of
Regulatory Affairs, Jim Callaghan, said:

        'The CAR's draft decision has now confirmed what Ryanair has been saying
        all along - DAA's T2 is excessively large and grossly expensive. DAA is
        driving this development for the sole purpose of inflating its so-called
        regulated asset base (RAB), from which airport charged are derived,
        which will allow it to an almost doubling in airport charges. Despite
        this, the CAR is allowing DAA to proceed with this development and the
        Regulator expects Ryanair's passengers to subsidise this white elephant,
        which will never be fully utilised because of Fingal County Council
        planning restrictions, which place a ceiling on the combined capacity of
        Terminal 1 and Terminal 2 of 30-35 mppa.

'Ryanair's submission to the CAR focuses on the following points:

   •Excessive Size and Cost of Terminal 2 The CAR has finally forced DAA to
    produce the passenger forecasts and busy hour rates that DAA claims to be
    the basis for the massive increase in the size and cost of T2. As a result,
    the CAR's consultants have verified what Ryanair has been saying all along -
    i.e., that the numbers produced by DAA are entirely fictitious and that the
    size of T2 is grossly excessive. DAA is building a facility for 25 mppa as
    opposed to the 10 mppa permitted under the Fingal County Council Local Area
    Plan (LAP). It is now clear that T2 as proposed by DAA is inappropriate and
    DAA must be forced to provide a low cost, efficient facility that meets the
    requirements of the vast majority of users at Dublin Airport.

   •The Capacity of Terminal 1 and the Requirement for Additional Capacity at
    Dublin Airport. The CAR should be analysing the total capacity of both T1
    and T2 and ensuring that DAA is prevented from building excessive capacity
    that cannot be used given the current 30-35 mppa cap on traffic by Fingal
    County Council. By Ryanair's calculation, DAA is proposing to build between
    15 mppa and 20 mppa of entirely unnecessary capacity between T1 and T2 and
    the CAR cannot allow DAA to recover its costs on any of this excessive
    capacity.

   •Lack of Proper Consultation. Consultation has been farcical throughout
    the T2 and CIP (Capital Investment Programme) processes and the CAR has
    failed to attend any of the so-called consultation meetings, despite
    repeated requests from users. DAA has consistently stonewalled users'
    reasonable requests for information and has refused to consider lower cost
    options for airport developments. This has led to grossly inefficient and
    expensive developments, including T2, the proposed terminal 1 extension
    (T1X), and Pier D. DAA should not be allowed any recovery on these
    developments beyond what meets the reasonable requirements of users and
    based on objective cost benchmarking.

   •Excessive Cost of Other Developments. Although the Draft Decision and
    related reports confirm that DAA's costs for various developments are
    excessive, the analysis does not go far enough and merely relies on DAA's
    own benchmarking report - which generally compares costs with other DAA
    projects or BAA developments - another highly inefficient airport monopoly.
    The CAR also fails to consider the work carried out by its own consultants
    regarding benchmarking against other low cost facilities around Europe. For
    example, DAA intends to spend a further €400m. on extending/refurbishing T1
    but stated at the planning inquiry that at the same time it intends to
    reduce the capacity of T1 from the current 25mppa to 15mppa. It is
    incomprehensible that the CAR should contemplate allowing DAA to waste a
    further €400m. on T1 when DAA has stated that it will reduce capacity by
    some 40%.

   •The Charges Determination for the Period 2006-2009. Ryanair has
    demonstrated that the current charges being paid by airport users under the
    regulatory cap are too high given the fact that there are unjustified costs
    in the RAB (Regulated Asset Base) and the number of passengers currently
    using Dublin Airport is considerably higher than originally forecast by DAA.
    Charges should therefore be reduced. Moreover, passenger charges should be
    further reduced in the next review based on a much lower cost for T2
    (approximately €150 million for a 10 mppa terminal) and other developments,
    including Area 14 and Pier D.

Based on the above, Ryanair has called on the CAR to:

 1. The DAA should only be allowed to recover the financing costs on 10 mppa
    worth of capacity in T2, given the current planning restrictions on the
    Eastern Campus, taking into account the 25 mppa threshold of capacity
    provided by Terminal 1;

 2. The DAA should therefore only be allowed to recover reasonable costs for T2
    - i.e., no more than €150 million necessary to build a 10 mppa terminal
    facility;

 3. Require Aer Lingus and any other T2 users to pay for the cost of T2.
    Ryanair's passengers should not be forced to cross subsidise a terminal they
    will never use;

 4. Claw back the cost of Pier C, the €150m., 7-year old pier which will now
    become redundant under DAA's plans for T2.

 5. Claw back the excessive financing costs allowed in the current regulatory
    determination;

 6. Claw back the grossly excessive costs of Pier D and other projects when
    benchmarked against other low cost developments elsewhere in Europe;

 7. Disallow any future projects that do not meet the reasonable requirements of
    users, following proper consultation, and that do not have the agreement of
    the majority of airport users.

 8. Provide for strict requirements regarding information disclosure, including
    the independently verified costs of each project, by the regulated monopoly
    and actual consultation with users regarding all of the options;

 9. Attendance by the CAR at all future consultation meetings to ensure that the
    regulated monopoly is properly consulting with users.

Ends.                                                 Thursday, 21st June 2007

For reference:
Peter Sherrard - Ryanair             Pauline McAlester - Murray Consultants
Tel: [phone]                  Tel: [phone]

The directors of Ryanair accept responsibility for the information contained in
this announcement, save that the only responsibility accepted by the directors
of Ryanair in respect of the information contained in this announcement relating
to Aer Lingus and the Aer Lingus Group, which has been compiled from published
sources, has been to ensure that such information has been correctly and fairly
reproduced or presented (and no steps have been taken by the directors of
Ryanair to verify this information). To the best of the knowledge and belief of
the directors of Ryanair (who have taken all reasonable care to ensure that such
is the case), the information contained in this announcement for which they
accept responsibility is in accordance with the facts and does not omit anything
likely to affect the import of such information.





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