Activism

Ryanair calls for Aer Lingus EGM

Ryanair has written to Aer Lingus to request an EGM so that shareholders can consider asking the airline’s board and management to maintain four daily flights between Shannon and Heathrow. Aer Lingus is planning to transfer its London flights from Shannon to Belfast.

The Irish government holds a 25% stake in Aer Lingus, and Ryanair stated that if Irish premier Bertie Ahern fails to support the EGM motion to preserve the Shannon-Heathrow route, “then the extent to which his government has lied, and abandoned Shannon in favour of Belfast will become apparent to all”.

Michael O’Leary, Ryanair chief executive, commented: “The government and Aer Lingus’ determination to invest in Belfast should not come at Shannon’s expense”.

Ryanair, which also has a 25% stake in Aer Lingus, added that if Aer Lingus proceeds with plans to close the route, it will itself provide three additional daily flights from Shannon to London.

September 2007