ryanair ceo says wont bid
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

for Air Berlin

Ryanair CEO says won't bid

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleRyanair CEO says won't bid

Ryanair CEO Michael O'Leary
Berlin - Muslimchronicle

Ryanair chief executive Michael O' Leary on Wednesday said his airline would not make a bid for insolvent Air Berlin, slamming what he called a German "stitch-up" designed to benefit Lufthansa.

Several airlines are jostling to take over parts of Air Berlin after it filed for insolvency earlier this month, a process Ryanair has been fiercely critical of.

The chief executive of the Irish no-frills airline said at a press conference in Berlin that Ryanair would only join the scramble for assets if it "was a fair and open process".

"But we are not getting involved in this process because it is a stitch-up," O'Leary said.

Air Berlin filed for insolvency after main owner Etihad Airways suddenly pulled the funding plug following years of losses.

The German government then stepped in with a 150-million-euro ($180-million) bridging loan to keep the carrier's planes flying for the coming weeks.

O'Leary accused the government and the two German airlines of conspiring to allow Lufthansa to take over a debt-free Air Berlin in violation of anti-trust rules, charges the government rejects.

The pugnacious Ryanair boss said awarding Air Berlin to Lufthansa would give Germany's flagship carrier control over "95 percent of the domestic market".

This would make Lufthansa "not just a German champion but a German monster who will increase the cost of air travel for millions of Germans for the next 10, 15, 20 years".

German newspaper Bild has reported that Lufthansa -- which already leases 38 of Air Berlin's 140 planes -- could buy up to 70 aircraft with as many as 3,000 crew for its low-cost subsidiary Eurowings.

Other interested airlines cited in media reports include package holiday firm TUI, British low-cost carrier EasyJet and Thomas Cook subsidiary Condor, as well as Bavarian entrepreneur Rudolf Woehrl.

German Economy Minister Brigitte Zypries said last week that "for competition reasons, no single company can take over Air Berlin".

Ryanair has lodged complaints with German and European Union anti-trust authorities, urging them to investigate the "obvious conspiracy playing out in Germany".

source: AFP

themuslimchronicle
themuslimchronicle

GMT 08:12 2017 Sunday ,24 December

Lufthansa eyes EU green light

GMT 00:08 2017 Friday ,22 December

EU approves Lufthansa buyout

GMT 08:19 2017 Friday ,13 October

Lufthansa to swallow lion's share

GMT 07:58 2017 Saturday ,16 September

'Lively' investor interest in Air Berlin

GMT 08:08 2017 Thursday ,14 September

Air Berlin scraps more flights
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ryanair ceo says wont bid ryanair ceo says wont bid

 



Themuslimchronicle, themuslimchronicle

GMT 08:26 2018 Tuesday ,23 January

Five things to know about Davos

GMT 21:30 2017 Wednesday ,01 November

New York Times’ third-quarter revenue up 6.1%

GMT 11:09 2017 Friday ,24 November

Berlin police seeking more missing John Lennon items

GMT 06:34 2017 Saturday ,09 December

Rockets down Jazz for eighth straight NBA win

GMT 23:25 2017 Thursday ,16 February

Pakistan adds 16 new fighter jets to its fleet

GMT 10:50 2018 Tuesday ,23 January

Saudi university to open driving school for women

GMT 03:31 2017 Saturday ,07 January

Sharjah launches award for refugee support

GMT 21:54 2016 Wednesday ,01 June

December 21 - January 18

GMT 16:05 2017 Monday ,24 April

Sharapova's return divides rivals

GMT 13:50 2012 Sunday ,22 January

Egyptians can now remove any regime

GMT 07:26 2017 Sunday ,23 July

70 villagers kidnapped in Afghanistan
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle