Ryanair submit 'radical' remedies package to EU over Aer Lingus bid

Ryanair says it has submitted a ''radical and unprecedented'' remedies package to the EU in connection with its offer for Aer Lingus.

The €694m takeover bid is being examined on competition grounds.

The European Commission blocked a previous bid in 2007, saying it would create a monopoly on Irish flights.

In a statement this morning, Ryanair has said the remedies involve two upfront buyers each basing aircraft in Ireland to takeover and operate a substantial part of Aer Lingus' existing route network and short-haul business.

The airline has announced third quarter profits of €18m - up three million on last year - and it says the figures were boosted by stronger than expected pre-Christmas bookings.

  • Click to stay connected with more stories like this
  • Sign up here to receive news by email. Once per day, no spam.

Most Read in Business

World Markets