Ryanair To Appeal Aer Lingus Sell-Down Ruling - Quick Facts

(RTTNews) - Ryanair, Europe's favourite airline, noted the UK Court of Appeal's judgment concerning Ryanair's appeal of the UK Competition Commission's Final Report regarding Ryanair's 29% stake in Aer Lingus. The Court of Appeal considered Ryanair's arguments about the CMA's breach of the EU law duty of sincere cooperation and of Ryanair's procedural rights, as well as the disproportionality of the divestment remedy imposed on Ryanair, but refused to set the CMA's decision aside. Ryanair will now appeal this case to the UK Supreme Court, as it raises human rights issues of significant public importance, including the scope of protection offered to businesses by the right to property.

In parallel, Ryanair has requested a formal review by the CMA of its Final Report, and a withdrawal of the divestment remedy, in light of the recent offers by the International Airlines Group or IAG for Aer Lingus, which fully disprove the theories and unsubstantiated evidence on which the Final Report was based.

In addition, Aer Lingus welcomes today's decision by the Court of Appeal rejecting the challenge Ryanair brought against the judgment of the Competition Appeal Tribunal or "CAT". In March 2014, the CAT dismissed Ryanair's appeal against the UK Competition Commission or CC's Report that ruled Ryanair's shareholding in Aer Lingus to be anti-competitive and required it to sell down its 29.82% stake in Aer Lingus to 5%. The Report also limits Ryanair's ability to re-acquire shares.