EAST MIDLANDS AIRPORT PARKING NEWS - 01/12/2008

RYANAIR LAUNCHES NEW BID FOR AER LINGUS

Budget carrier Ryanair has launched a new bid to take over Aer Lingus.

The offer, revealed by boss Michael O'Leary, values the flagship airline at €748 million (£626 million).

Mr O'Leary explained the development: "The world has changed dramatically over the past two years, as high oil prices and deep recession have caused a flood of airline bankruptcies, consolidations and capacity cutbacks.

"This proposed merger of Ryanair and Aer Lingus will form one Irish airline group with the financial strength to compete with Europe's three major airline groups - Air France, British Airways and Lufthansa."

A prior bid for the airline was blocked by the European Union on competition grounds.

Ryanair already holds a 29.8 per cent stake in the former state-owned company.

The low-cost carrier flies from a number of UK locations, including East Midlands Airport, to a range of European destinations including Stockholm, Santiago de Compostela and Bratislava Vienna.

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