Budget airline Ryanair has responded to reports that the Irish government may consider selling its 25% stake in Aer Lingus by pointing out that refusing to sell it to Ryanair could result in the government getting a lower price for its shares.

"If the Irish government wishes to dispose of its 25% stake in Aer Lingus, and if the government believes that any offer from Ryanair for this stake would be unwelcome, then Ryanair is happy to confirm that it will not bid for the government's 25% stake (although this may result in the government realising a lower price for its shares)," Ryanair said.

In a typically combative statement it added that it "would welcome another financially strong airline/investor acquiring the government's 25% stake, which could then work with Ryanair and other like-minded shareholders to restore shareholder value, which has been destroyed over the past five years by the board and management of Aer Lingus."

Ryanair owns nearly 30% of its fellow airline. It said that it would consider selling its stake to another investor should that investor acquire the government's 25% stake.

"Ryanair will not engage in, or comment upon, rumour or speculation, but remains willing to work with any other Aer Lingus shareholders to maximise shareholder value which has under the current Board of Aer Lingus collapsed by more than 80% from over €3 per share in early 2007 to less than €0.60 per share in recent days," Ryanair said.

Aer Lingus's board rejected a bid from Ryanair in 2008.

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RG

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