OLeary, although predicting losses for the second half of the year makes a lower bid.
Ryanair, Europes largest low-cost airline, on Monday offered to buy Irish rival Aer Lingus for 750m ($970.4m), or just half the price of its bid in 2006 which was blocked by the European Union.
Why should it not be blocked again? Aer Linguss, first reaction is keenly awaited. The unions have no doubt.
The initiative was doubtless designed to coincide with a dispute in Aer Lingus. However workers and management in Aer Lingus have managed to formulate a proposal to save the airline, frustrate Ryanairs monopoly ambitions, continue to promote choice to in the Irish airline industry and maintain some semblance of civilised working conditions.
I heard an analyst say this morning that EU and the Irish government wouldnt tolerate an Irish airline monopoly. So whats the difference between Ryanair/Aer Lingus and the merged Air France/KLM and Lufthansa/Swiss?