Ryanair to 'fold tents' if bid is unsuccessful

Ryanair said today that it will end it's interest in acquiring Aer Lingus in the event that the current offer is not accepted by shareholders by the February 13 deadline.

Speaking at an airline finance conference in Dublin today, Ryanair Chief Financial Officer Howard Millar said that if the current offer for Aer Lingus is not successful the airline would fold it's 'tents and go elsewhere' to concentrate on it's own growth.

Following on from the Irish Government's decision to nationalise Anglo Irish Bank, The Irish Independent reports that Ryanair CEO Michael O'Leary was asked if he would accept a directorship on the board of the bank to restore it's international reputation. In reply Michael O'Leary said "Never having taken a non-executive directorship in my life, why would I want one now ?, adding "I have no desire to make friends in the Government. Either they want the €188m or they don't. Given the collapsing state of national affairs, the deal gets better by the day."