Michael O'Leary, the chief executive of Ryanair, has claimed that Aer Lingus has no long-term independent future, but if he succeeds in buying the former state airline, he'll be acquiring a company on the turn.
As the Aer Lingus board pointed out in its rejection of Ryanair's €1.30 per share offer last Wednesday, chief executive Christoph Mueller has helped to improve the operating performance by €130 million since taking over in 2009.
The company's latest trading...
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