Ryanair outlines offer

Ryanair today sent it's offer to shareholders in an attempt to gain the remaining 70% shareholding outside it's control. The offer price of Euro 1.40 per share is nearly 30% higher than the quoted price. The offer is open to acceptance until January 5 2009. Commenting on the offer, Aer Lingus said that there was nothing new in today's document. Colm Barrington, Chairman of Aer Lingus said that it "contained the usual stream of invective, spin and misrepresentation that we expect from the people at Ryanair.", a statement which may prove not be the smartest career move. 'It is a desperate last effort to create an airline monopoly in Ireland, and is clearly not in the interests of Aer Lingus shareholders and the travelling public,' Mr Barrington said. 'Aer Lingus is and will continue to be a strong independent airline. Ryanair clearly needs Aer Lingus but we do not need Ryanair,' he concluded. Pictured - Could Aer Lingus and Shannon figure in Ryanair's transatlantic ambitions ?