RYANAIR STEPS UP FIGHT WITH AER LINGUS - REPORT

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  1. uggboy
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    uggboy Gold Member

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    Ryanair has stepped up its confrontation with Aer Lingus by demanding that the Irish flag carrier pays out a special dividend to its shareholders, the Financial Times reported.

    Ryanair chief executive Michael O'Leary made a hard-hitting attack on the Aer Lingus board and management and demanded assurances that shareholders would have no liability for the deficit in the carrier's pension fund.

    The low cost airline has a 29.8 percent stake in Aer Lingus but last week ruled out bidding for the Irish government's 25 percent shareholding in the carrier.

    The move could pave the way for a takeover of Aer Lingus by another airline.
    Ryanair has previously mounted two takeover bids for Aer Lingus but both were ruled out on competition grounds by the Irish government and the European competition authorities.

    http://news.airwise.com/story/view/1316125988.html
     
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  2. NYBanker
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    NYBanker Gold Member

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    If not the owners, then who has liability for unfunded pension liabilities?
     

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