Ryanair Congratulates Aer Lingus on Finding a P...

RYANAIR CONGRATULATES AER LINGUS ON FINDING A PARTNER WHICH IS EVEN WEAKER AND IN WORSE SHAPE THAN AER LINGUS Ryanair, today (Thursday, 22nd Jan '09), congratulated Aer Lingus on the announcement of its "partnership" with United Airlines to operate a route between Washington and Madrid - in 15 months time - from March 2010 onwards. This partnership, which joins Aer Lingus to one of the weakest U.S. airlines doesn't add one job, one passenger, or one visitor to Ireland whatsoever. United Airlines in 2005 defaulted on pension obligations for 122,000 employees, when its $9.8 Billion pension default was one of the largest in U.S. history. Ryanair believes that United Airlines is in many ways similar to Aer Lingus. Both have recently announced losses (in United's case a $5.35 Billion - yes Billion - loss) for 2008, and both airlines have recently announced capacity cuts, route cuts, pay cuts and job cuts. Responding to this "partnership" today, Ryanair's Michael O'Leary said: "Aer Lingus and United Airways share many similar traits. They both used to be big in the 1950's and 1960's, but sadly today they are just shadows of their former glory. Both have recently announced losses, job cuts and pay cuts. After months of trawling around looking for partners, it is a sad reflection on Aer Lingus that the best they could come up with is one of the weakest and biggest loss makers in the U.S. airline industry. Given the scale of United's losses there is no guarantee that they will even be around in March 2010 to operate this "partnership". "It is hard to think of any transatlantic airline losing any sleep at the thought of being faced with the combined weakness of Aer Lingus and United Airlines on the Madrid-Washington route. Today's announcement shows just how desperate Aer Lingus is to find a partner, any partner it can, even if the flights don't start until March 2010. This so called "partnership" with another "loser" like United shows that Aer Lingus has no independent strategy, and no prospect of remaining independent. "Today's "partnership" comes on the back of a series of recent flip-flops by Aer Lingus on fuel surcharging, the Heathrow-Shannon route and Dermot Mannion's ¤2.8m failure fee and sadly shows that Aer Lingus has no credible strategy either for independence or for growing traffic, tourism and jobs in Ireland. Aer Lingus can't match Ryanair's prices, it can't match Ryanair's punctuality, and it can't match Ryanair's strong growth and vision for the future either". Ends. Thursday, 22nd January 2009 Enquiries: Ryanair Telephone: +353 1 812 1212 Howard Millar Davy Corporate Finance Telephone: +353 1 679 6363 (Financial Adviser to Ryanair and Coinside) Eugenée Mulhern Brian Garrahy Morgan Stanley Telephone: +44 20 7425 5000 (Financial Adviser to Ryanair and Coinside) Colm Donlon Adrian Doyle Murray Consultants Telephone: +353 1 498 0300 (Public Relations Advisers to Ryanair) Pauline McAlester Telephone: +353 87 255 8300 The directors of Ryanair and Coinside accept responsibility for the information contained in this announcement, save that the only responsibility accepted by the directors of Ryanair and Coinside in respect of the information in this announcement relating to Aer Lingus and the Aer Lingus Group, which has been compiled from public sources, has been to ensure that such information has been correctly and fairly reproduced or presented (and no steps have been taken by the directors of Ryanair and Coinside to verify this information). To the best of the knowledge and belief of the directors of Ryanair and Coinside (who have taken all reasonable care to ensure that such is the case), the information contained in this document for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information. Davy Corporate Finance, which is regulated in Ireland by the Financial Regulator, is acting exclusively for Ryanair and Coinside and no one else in connection with the Offer, and will not be responsible to anyone other than Ryanair and Coinside for providing the protections afforded to clients of Davy Corporate Finance nor for providing advice in relation to the Offer, the contents of this announcement, the Offer Document or any transaction or arrangement referred to in this announcement. Morgan Stanley & Co. Limited is acting exclusively for Ryanair and Coinside and no one else in connection with the Offer and will not be responsible to anyone other than Ryanair and Coinside for providing the protections afforded to clients of Morgan Stanley & Co. Limited nor for providing advice in relation to the Offer, the contents of this announcement, the Offer Document or any transaction or arrangement referred to in this announcement. This announcement does not constitute an offer or an invitation to offer to purchase or subscribe for any securities. Any response in relation to the Offer should only be made on the basis of the information contained in the Offer Document or any document by which the Offer is made. Terms defined in the Offer Document have the same meaning in this announcement unless otherwise stated. ---END OF MESSAGE--- This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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