Ryanair to cut Aer Lingus holding


South Tipperary MEP, Phil Prendergast, has today welcomed a decision to order Ryanair to cut its Aer Lingus shareholding.

This morning the Competition Commission in the UK found that by having a 29.8% stake in Aer Lingus, Ryanair could prevent  Aer Lingus its main competitor from combining with another airline.

Due to the commissions concerns about the budget airline's effect on competitiveness   it demanded that Ryanair reduce its interest in Aer Lingus to 5%

Responding today Ms Prendergast said that that the decision is good news for the state airline and the consumer.