The controversial Michael O’Leary, CEO of the Irish discount airline Ryanair, says his firm is still in talks with the European Commission about his bid to buy the Irish national airline Aer Lingus. O'Leary says he believes Ryanair will get the green light from the EU.
“We don't expect it to go to an appeal process because it will be very difficult for the commission to reject this package of remedies because they are so transformational and revolutionary," O'Leary said, referring to concessions that Ryanair has proposed in a bid to address competition concerns.
According to the Irish Independent, the €694 million (over US$950 million) takeover bid is being questioned by EU officials on the grounds that it might inhibit competition.. The European Commission blocked a previous bid in 2007, saying it would create a monopoly on Irish flights.
The Irish government also opposes the takeover, as they own 25 percent of Aer Lingus and Ryanair, which owns 30 percent of Aer Lingus, dropped a second offer in 2009.
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