Ryanair has dismissed as "empty spin" Fianna Fáil's claim that the Government's refusal to interfere with Aer Lingus's decision to end its Shannon-Heathrow service protected the airline's share price.
Ryanair boss Michael O'Leary has dismissed Fianna Fail claims as absurd. Image:Irish Times.
The airline's chief executive Michael O'Leary said the Government had done nothing but damage Aer Lingus's share price and described the assertion, made in a document circulated by Fianna Fáil headquarters to TDs and councillors in the west yesterday, as "absurd".
Mr O'Leary said: "The Government opposed Ryanair's offer for Aer Lingus last October, which valued the airline at €2.80 a share or €1.49 billion, with the result that today Aer Lingus's value has fallen to €2.45 per share or just €1.29 billion."
The Fianna Fáil document suggests that the Shannon-Heathrow route had been in decline for the last three years. It also sought to play down the impact of its loss on tourism and jobs in the region.
The Labour Party said the document showed the Government was turning its back on Shannon and "ignoring the potential consequences in terms of jobs and economic development in the region".
Local TD Jan O'Sullivan said the Government's position represents "a very crude slap down" for Fianna Fail public representatives in the region, including Minister for Defence Willie O'Dea, who has voiced his opposition to the plan.
Ms O'Sullivan said the document suggests a considerable level of "tic-taking" between the Department of Transport and senior executives in the company.
"The more we learn, the more difficult it comes to believe that the government was taken unaware by the management decision," she claimed.