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Aer Lingus rejects Ryanair EGM request

17th September 2007 Print
The Board of Aer Lingus Group plc has today (17th September 2007) written to the Directors of Ryanair Holdings plc rejecting a second request from Ryanair to convene an EGM, stating “the aim of which is to interfere with and frustrate the commercial and operational performance of Ryanair's most resilient competitor.”

The Board has received strong legal advice that the resolution proposed by Ryanair is no different in substance from those previously rejected on the basis that they would result in an infringement of Irish and EU competition law. This latest request is not an isolated act and cannot be treated as separate from the previous requisition request and from related public statements by Ryanair.

"The Board of Aer Lingus will act in accordance with the law and will not dance to the tune of our competitor," said John Sharman, Chairman of Aer Lingus.

"We will continue to progress our stated business strategy in the interests of our shareholders and will not be deflected by the self serving agenda of a competitor with whom we fight tooth and nail for business every single day. The Board's definitive decision is therefore to reject Ryanair's interference and turn down the request to convene an EGM.”