Irish routes under scrutiny of competition watchdog [Big News Network (United Arab Emirates)]
(Big News Network (United Arab Emirates) Via Acquire Media NewsEdge)
The UK competition watchdog has been closely watching airline routes and the companies that fly between Britain and Ireland.
It has ordered Ryanair to cut its stake in smaller Irish rival Aer Lingus to 5% from 30%, saying such an arrangement could reduce competition.
The Competition Commission ruled that Ryanair's shareholding in Aer Lingus had already lessened competition on the highly travelled route.
Ryanair has said it will now appeal the decision, thus throwing up a legal challenge that could take years in the courts.
Six months ago, the European commission blocked Ryanair's third bid to take over Aer Lingus.
Ryanair has made three failed takeover bids for 75-year-old Aer Lingus.
Ryanair is a low-cost model airline that has begun to dominate European aviation.
The company carried 77 million passengers last year compared with 9.5 million passengers at Aer Lingus.
(c) 2013 Big News Network. All rights reserved. Provided by Syndigate.info an Albawaba.com company
[ Back To Technology News's Homepage ]