RYANAIR WELCOMES PROPOSED IAG -VUELING MERGER

RNS Number : 8877Q

Ryanair Holdings PLC

12 November 2012

 



RYANAIR WELCOMES PROPOSED IAG -VUELING MERGER

MIRRORS EARLIER BA/BMI & CURRENT RYANAIR/AER LINGUS OFFER

Ryanair, Europe's only ultra low fares airline, today (12 Nov) welcomed the announcement by IAG/Iberia that it intends to acquire Vueling, as the consolidation of Europe's airlines continues.

This latest airline merger mirrors the EU Commission's Phase 1 approved merger of IAG/British Airways with British Midland (in the UK) in March 2012, Aegean's recent takeover offer for Olympic in Greece and Ryanair's offer for Aer Lingus, which is currently being reviewed by the EU Competition Authorities.

IAG's announcement that it is to cut 4,500 jobs at Iberia further demonstrates the changing landscape of Europe's aviation industry and the need for continuing restructuring and reform among Europe's high fares former flag carriers who, like Aer Lingus, cannot survive as independent airlines.

Ryanair's Stephen McNamara said:

"The merger of IAG Iberia and Vueling is another logical merger of EU airlines operating in the same market and mirrors IAG/British Airways takeover of BMI in the UK earlier this year, Aegean's offer for Olympic in Greece and Ryanair's current offer for Aer Lingus in Ireland.

As Europe's flag carrier airlines continue to consolidate Ryanair believes that its offer for Aer Lingus should be approved by the EU Competition Authorities if they follow - fairly - the precedent set in the BA/BMI merger and last weeks takeover of Vueling in Spain by BA/IAG.  These are all inevitable steps in the consolidation process of Europe's high fares former flag carrier airlines."

Stephen McNamara                            Joe Carmody

Ryanair Ltd                                          Edelman

Tel: [phone]                         Tel. [phone]

 

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