Ryanair continues push for Aer Lingus egm

Aer Lingus sjhareholder Ryanair is seeking an egm to discuss a controversial settlement with the Revenue Commissioners earlier this year.

IRISH TIMES REPORTERS

No-frills airline Ryanair said it will pursue the directors of Aer Lingus for breaching company law if the airline refuses again to call an extraordinary general meeting.

Ryanair owns almost 30 per cent of Aer Lingus, and says it is entitled to seek the meeting.

On November 2nd, Ryanair submitted a requisition notice to Aer Lingus calling for an egm to be convened within three weeks.

One related to the publication of an external report into the controversial leave and return scheme, which resulted in Aer Lingus making a €30 million settlement with the Revenue Commissioners earlier this year.

The other demanded that Aer Lingus make no further contributions into its employee pension scheme, which is in deficit.

However, Aer Lingus has rejected the request for the egm.

In a letter dated November 18th and released to the stock exchange this morning, Ryanair outlined its position.

"Please be advised that should your board again refuse to convene this properly requisitioned egm, then Ryanair will pursue the directors of Aer Lingus for this breach of Irish company law and the listing rules of the Irish Stock Exchange," the letter said.

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