Ryanair wants airline bid Vat refund

Ryanair claims it should be refunded €770,000 in Vat for professional services related to its unsuccessful 2006 bid to take over Aer Lingus, the High Court has heard.

The airline is appealing a decision of a Revenue Commissioners that the legal and stockbroking fees incurred in the takeover bid did not relate to its core economic activity of air transport and was, therefore. not Vat-deductible.

In Oct 2006, Ryanair succeeded in acquiring 29% of Aer Lingus but failed to get a 100% shareholding due to a number of factors, including conditions imposed by the EU Competition Authority as well as resistance by the Government and trade union shareholders in Aer Lingus.