Company Watch - Ryanair.Dec 18, 2006 Ryanair announced the launch of six new routes and the cancellation of six others next year. Additions are thrice-weekly Girona-Cagliari service from March 27, thrice-weekly Bremen-Malaga from April 3, four-times-weekly Brussels Charleroi-London Stansted from June 1, four-times-weekly Valladolid-Milan Orio al Serio Orio al Serio is a comune (municipality) in the Province of Bergamo in the Italian region of Lombardy, located about 45 km northeast of Milan and about 4 km southeast of Bergamo. As of 31 December 2004, it had a population of 1,671 and an area of 3.0 km². from March 2, thrice-weekly Pisa-Cagliari from Jan. 16 and daily Rome Ciampino-Madrid starting March 1. Closing city-pairs will be Frankfurt Hahn-Billund on Jan. 9, Liverpool-Kerry and Pisa-Friedrichshafen on Jan. 16, HHN-Shannon and Newcastle-Oslo Sandefjord on March 24 and CRL-Salzburg on April 16. Dec 18, 2006 Ryanair appears to be making a last push to convince El shareholders to accept its offer, which it said is "generous" and will not be increased. The letter from Ryanair CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Michael O'Leary Michael O'Leary is the name of a number of prominent people:
Ryanair sent a comprehensive letter to all Aer Lingus Aer Lingus is Ireland's national airline. Based in Dublin, it operates 41 Airbus aircraft serving Europe, Africa, North America and the Middle East. The airline is 28% owned by the Irish government; it was floated on the Dublin and London Stock Exchanges on 2 October 2006, shareholders Friday urging them to approve the LCC's [euro]2.80 ($3.70)-per-share takeover bid Noun 1. takeover bid - an offer to buy shares in order to take over the company two-tier bid - a takeover bid where the acquirer offers to pay more for the shares needed to gain control than for the remaining shares before a Dec. 22 deadline. Ryanair investors voted overwhelmingly to back the takeover at an extraordinary general meeting of shareholders last week. Dec 18, 2006 Ryanair transported 3.16 million passengers in November, a 15% increase over the year-ago month. Load factor was down 2 points to 79%. Dec 18, 2006 Aer Lingus declined to comment on the letter. Ryanair has said that if the bid fails, which even CEO O'Leary has said is likely, it will remain a long-term shareholder and may return with another offer. Mounting expectations that Ryanair's bid for a stake of at least 50.1 percent will fail means shares in Aer Lingus have traded at below the offer price for more than a month -- although Ryanair said that also reflected investors' low expectations of how an independent Aer Lingus would perform. A circular from Aer Lingus earlier this month lacked concrete proposals on how current management planned to lower fairs and costs or generate significant growth, he added. Dec 15, 2006 Aer Lingus said on December 1, in response to a request for details from Ireland's Takeover Panel, it planned to boost revenues and cut costs significantly next year. While it identified areas where overheads could be reduced, it did not specify how or whether there would be any job cuts. Dec 15, 2006 Ryanair Says Aer Lingus Misled mis·led v. Past tense and past participle of mislead. Investors. Ryanair made a last-ditch effort on Friday to persuade Aer Lingus shareholders to accept its takeover bid, repeating a call for job cuts at the airline and accusing management there of misleading investors. The bid by Europe's biggest low-cost carrier A low-cost carrier or low-cost airline (also known as a no-frills or discount carrier / airline) is an airline that offers generally low fares in exchange for eliminating many traditional passenger services. , which values Ireland's former state airline at EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.48 billion (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $1.94 billion), is expected to fail given opposition from key shareholders such as the government and Aer Lingus employees. Ryanair Chief Executive Michael O'Leary said in a letter to Aer Lingus shareholders, who have until December 22 to accept his 2.80 euros-a-share offer, that the Aer Lingus board could not argue the bid was too low, having floated the company for less. Dec 15, 2006 Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For more global news, reviews, features and analysis, please go to: http://www.airguideonline.com/onlinenews.htm To Subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com Dec 11, 2006 |
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