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Ryanair Demands OFT Explanation Regarding BA/BMI Merger Deal - Quick Facts

3/8/2012 7:56 AM ET

Ryanair (RYAAY: Quote,RYA.L) called on the Office of Fair Trading, or OFT, to explain their decision this week not to ask the European Commission to refer the BA/British Midland merger back to the OFT for assessment, which runs contrary to the OFT's previous decision to attempt to review the European Commission's ruling on Ryanair's failed 2006 offer for Aer Lingus, which the OFT is attempting to investigate, despite the fact that it is out of time to do so.

Ryanair's Michael O'Leary said,

"The OFT now admits that the European Commission is "best placed" to consider these airline mergers, and as a result, the OFT has decided not to review BA's acquisition of British Midland. Given this admission, the OFT and its Irish boss John Fingleton should explain precisely why six years after Ryanair's failed takeover of an Irish airline, Aer Lingus, was prohibited by the European Commission, it now wishes to re-investigate the European Commission's decision not to force Ryanair to dispose of its 29% stake in Aer Lingus..."

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by RTT Staff Writer

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