O’Leary says Ryanair doesn’t need mergers
31.07.08
Ryanair has no need to merge with other airlines to survive the current fuel crisis, its chief executive Michael O'Leary said today, adding his company will be one of 5 main carriers left after the industry consolidates. His comments come after BA and Iberia announced that they were planning to merge.
Mr O'Leary said at a press conference in Italy: ‘Ryanair does not need mergers with other companies. After consolidation among flag carriers because of expensive fuel, 5 main airlines will remain and Ryanair will certainly be among them,’
How he reconciles his comments with Ryanair's continued pursuit of rival Irish airline Aer Lingus, in which it holds an almost 30% stake, we fail to see. We guess that he would tell us that it is a takeover, not a merger. The devil is in the detail!
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