Ryanair to appeal court ruling on sale of Aer Lingus shares

Ryanair has said it will take its case to the British Supreme Court, after UK Court of Appeal refused to set aside a ruling that the company must sell a portion of its shares in Aer Lingus.

The ruling has implications for IAG's bid for Aer Lingus, which is currently being examined by the Irish Government.

The Competition Appeal Tribunal (now Competition and Markets Authority, or CMA) ruled last year the airline had to reduce its stake from its current 29.82% shareholding in Aer Lingus to 5%. The Report also limits Ryanair’s ability to re-acquire shares.

Ryanair said that today's decision "raises human rights issues of significant public importance, including the scope of protection offered to businesses by the right to property".

Ryanair has also requested a formal review by the CMA of its final report, and a withdrawal of the divestment remedy.

Ryanair claimed the IAG bid for Aer Lingus has undermined the UK’s Competition and Markets Authority’s (CMA) ruling that it must sell its stake.

"The CMA speculated in its final report that Ryanair’s 29% shareholding would deter other airlines from merging with or bidding for Aer Lingus," said a Ryanair statement.

"Clearly, IAG’s recent offers demonstrate that the CMA’s findings were wrong and that its divestment remedies must be revoked in light of this compelling evidence.

"As expected we have been refused leave to appeal to the Appeals Court. We have instructed our lawyers to appeal to the Supreme Court."

Aer Lingus welcomed today’s decision.