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Aer Lingus says not seeking counterbid vs Ryanair

Fri Dec 19, 2008 1:36am IST
 
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By Andras Gergely

DUBLIN (Reuters) - Aer Lingus (AERL.I: Quote, Profile, Research) is not actively seeking any airline to mount a counterbid against Ryanair's (RYA.I: Quote, Profile, Research) hostile offer, it said on Thursday, and was unaware of an investor mentioned by media as a potential bidder.

Aer Lingus (AERL.L: Quote, Profile, Research) Chairman Colm Barrington was quoted in a newspaper interview last week as saying he would seek a friendly investor to take a majority stake in the airline, though Chief Executive Dermot Mannion has said Aer Lingus was not for sale.

"We have not been out looking for a partner, we have not approached any other airline to acquire Aer Lingus, to buy shares in Aer Lingus," Barrington told a parliamentary hearing.

The Irish Independent newspaper reported on Thursday that 24-year-old Irish businessman Stuart Pearson is considering a bid for parts or all of Aer Lingus to thwart a hostile bid from Irish rival Ryanair, Europe's largest low-cost carrier.

"Don't know who it is, never heard of them, don't know anything about them," Barrington told reporters after the hearing.

Pearson could not immediately be contacted. The Irish Independent said Pearson declined to make any comment on the Aer Lingus move.

Ryanair officially launched its attempt to take over Aer Lingus on Monday by writing to its smaller rival's shareholders, asking them to accept a 750 million euro ($1.05 billion) bid despite the rejection by Aer Lingus's board and management.

"I DON'T BITE"  Continued...

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