Ryanair vows to appeal anticipated EU veto of Aer Lingus takeover

0 Comments | AFP, June, 2007

BRUSSELS (AFP) — Ryanair chief executive Michael O'Leary launched a pre-emptive strike Tuesday against EU regulators blocking the Irish low cost carrier from taking over Aer Lingus, by vowing to appeal.

Although the European Commission has until July 4 to rule on the deal, O'Leary said he expected the EU competition watchdog to veto the takeover on Wednesday.

In anticipation of the decision, the low-cost carrier's combative multi-millionaire said: "Ryanair will appeal this prohibition to the ECJ (European Court of Justice) and seek to have it overturned."

"This prohibition reverses 20 years of EU airlines consolidation," O'Leary told a news conference in Brussels.

Ryanair launched an unsuccessful takeover bid last October, valuing Aer Lingus at 1.481...