O’Leary plans to complain Aer Lingus

RYANAIR is in the process of preparing a formal complaint for the British financial authorities over what it called “market manipulation” on behalf of Aer Lingus.

Ryanair chief executive Michael O’Leary warned a fortnight ago that if Aer Lingus was to post heavy losses for 2008 after seemingly promising shareholders it would make a profit then Ryanair, which has a 29% stake in the company, would formally complain.

Last week, Aer Lingus duly reported a pre-tax loss of €120 million for last year — with the value of its shares falling by the largest daily amount ever, on the same day.