Ryanair chief planning to claim for damages over CMA ruling
The chief executive of Ryanair has told the competition watchdog that if it does not reverse its ruling on the company's stake in Aer Lingus then he will sue for damages.
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His announcement comes after the Competition and Markets Authority (CMA) last month rejected Ryanair's attempts to block its decision to force the airline to cut its interest in Aer Lingus from 29.8% to just 5%.
Speaking in an interview with the Sunday Telegraph, Ryanair boss Michael O'Leary said: "If they don't reverse the decision we're going after them in court."
He also said the value of the company's interest has been "damaged" by the CMA's decision, telling the publication that he believes the company's share price would have been "significantly higher" at the time IAG launched its 1.4bn euro offer earlier this year if the divestment decision hadn't been "hanging over" it.
O'Leary added that the approach from IAG marked a "material change of circumstances" since the CMA's original decision, but the watchdog has rejected this claim.
"Ultimately, if our appeal is successful we're going after them for damages," he said.