Ryanair has failed in its latest attempt to stop a Competition Commission investigation into its 29.9 per cent stake in rival Irish carrier Aer Lingus.
The UK Court of Appeal yesterday (December 13) rejected Ryanair’s application to stop the CC probe. Ryanair had argued that the investigation should be stopped because it was currently making its third attempt to buy the rest of Aer Lingus.
The Court of Appeal also refused Ryanair permission to lodge a further appeal to the UK’s Supreme Court.
Aer Lingus’ chairman Colm Barrington said: “Today's appeal judgment is a key milestone on the path toward Ryanair being required to divest its shareholding in Aer Lingus.”
Ryanair is continuing with its latest hostile takeover attempt for Aer Lingus – the proposed €694 million deal is currently being scrutinised by the European Commission’s competition authorities with a decision expected next month on whether the EC should again block the purchase.
Ryanair is offering to give up more than 40 routes from Ireland’s major airports to other airlines as part of a package of “remedies” aimed at persuading the EU to allow it to buy Aer Lingus.