Ryanair hopes the country's financial woes will help the low-cost carrier finally seal a takeover of Aer Lingus, chief executive Michael O'Leary told a German newspaper today.
Ryanair, which owns almost 30 per cent of Aer Lingus, has tried twice to take over its rival but has failed to overcome opposition from the Government, which retains a quarter stake in Aer Lingus.
"The Government is broke now, it has to sell its holdings. In the end, it will sell Aer Lingus as well," O'Leary said in an interview published in daily Frankfurter Allgemeine Zeitung today.
"And I hope, we will buy (Aer Lingus)," Mr O'Leary said, adding he would aim to expand Aer Lingus as quickly as possible following any deal.
"We could, for instance, get access to Charles de Gaulle (airport in Paris) and compete with EasyJet," he said.
However, the European Commission has already blocked a bid for the airline from Ryanair, citing competition grounds. In July, Ryanair a court ruling to overturn that decision, but the General Court of the EU - the second highest in Europe - upheld the decision.
A takeover of Aer Lingus could also increase the likelihood that Ryanair started buying Airbus planes.
"We have no credibility in negotiations with Airbus. They do not believe us that we really want to buy their planes. I think that will only change if we own an Airbus carrier such as Aer Lingus," Mr O'Leary said.
Ryanair's fleet currently comprises 202 Boeing 737-800 aircraft, according to its website. O'Leary said it was unlikely Ryanair would add Airbus planes to its fleet unless it bought Aer Lingus, which flies A330s and A320-family planes.
Shares in Aer Lingus were unchanged at €1.11 today. Ryanair's stock was trading at €4.08, 0.4 per cent lower than yesterday.
Reuters