News Summary: EU blocks Ryanair bid for Aer Lingus

Updated at: 02/27/2013 9:38 AM
By The Associated Press

SHOT DOWN: The European Union’s antitrust authority blocked Ryanair’s renewed bid to take over rival Irish carrier Aer Lingus, ruling it would undermine competition and drive up ticket prices.

PLAYING MONOPOLY: The EU Commission said the merger of the two airlines would have created a monopoly or dominant position on almost 50 routes where Aer Lingus and Ryanair currently compete.

HIGH HOPES: Ryanair hoped Ireland would sell its stake in Aer Lingus, since the debt-burdened government is seeking to sell billions in state assets as part of its effort to exit a 2010 international bailout.

(Copyright 2013 by The Associated Press. All Rights Reserved.)