Ryanair out of Stansted sale
MANCHESTER Airports Group’s hopes of buying Stansted Airport have been boosted after Irish budget airline Ryanair withdrew from the sale process.
The Dublin-based group said it would not be taking any part in the deal after being informed by Stansted’s parent company, Spanish infrastructure group Ferrovial, that it would be excluded from the process.
Ryanair, the largest airline at Stansted with 41 aircraft based there, declared an interest in the Essex-based airport after Ferrovial subsidiary BAA was forced to sell on competition grounds,
While it was looking to bid in its own right, Ryanair has also welcomed Manchester’s interest in the deal, with chief operating officer Michael Cawley suggesting last month the airline could even be a minority investor in a MAG-led bid.
The latest development means this will not occur. Ryanair spokesman Stephen McNamara said: “We regret Ferrovial’s decision to exclude Ryanair from the Stansted sale process and the failure of the Competition Commission to restrain this anti-competitive and anti-customer behaviour by Ferrovial.
“While we fully accept that Ferrovial is entirely free not to sell to Ryanair, we fail to understand how it can comply with competition law if Stansted’s biggest customer, accounting for 70% of the traffic, is excluded from this sale process.”
Ryanair has been a fierce critic of Stansted’s stance on prices for landing fees and claims this has been a major factor in the 25% decline in its passenger numbers from 23.8 million in 2007, to 18 million in 2011.
Manchester Airports Group has agreed to sell a 35% stake to Australian investment group Industry Funds Management if its succeeds in its bid for Stansted.
