Michael O’Leary’s Ryanair officially presented its takeover bid to Aer Lingus investors yesterday, giving them until January 5th to accept the €1.40 ($1.87) per share offer.
Ryanair presented the opportunity to create ”one leading, financially strong, Irish-run airline group.”
The offered share price represents a €748 million offer, a premium of approximately 28% over the average closing price for the 30 days ended Nov. 28 and considerably lower than the €2.80 per share that it offered two years ago.
Ryanair guaranteed that Aer Lingus would remain a separately operated company and that both its brand and its slots and connectivity at London Heathrow would remain.
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It is reported in this morning’s Irish Times that the Irish government is planning a u-turn on it’s decision 4 years ago to make both Cork Airport and Shannon Airport independent of Dublin airport.
According to the newspaper report, comments by minister for transport, Noel Dempsey, yesterday gave a clear indication of the intention to keep Cork and Shannon Airports under the authority of Dublin.
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The appointment has been announced that Gerry Walsh, former CEO of Board Gáis, will take over the position of Chairman of the Cork Airport Authority.
At myguideIreland we are huge fans of Cork Airport and often receive reviews from travellers highlighting the ease of transit and the quality of the experience at Cork Airport.
We welcome the appointment of Gerry Walsh and wish hime every success in steering the airport to even greater success in the coming years.
Ryanair announced today that they are to close 2 routes to Cork Airport from the United Kingdom.
This is a blow to toursim in the southwest of Ireland, a region that has also seen UK visitor numbers affected by the closure of the Swansea-Cork ferry 2 years ago.
The routes to close are from East-Midlands and Glasgow-Prestwick, which will close on October 26th and 28th respectively.
Ryanair’s CEO Michael O’Leary said they had made the decision due to an increase in the charges being imposed by the airport on those routes from 1 November however Cork Airport management have rejected this claim stating that they have not raised charges.
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H
ands up if you’re tired yet of the endless talk about a recession in the economy? For months now, there has been speculation about whether there will be one, if it’s not there already.
Well if the answer above is yes, here’s some good news at last – myguideIreland are offering you a 7 Day Ireland vacation for only $250, thats less than the price of an iPhone!
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