EasyJet tries to block Vinci bid

NO-FRILLS airline EasyJet erected an obstacle to a French bid for UK airport firm TBI yesterday, declaring predator Vinci was in "cloud cuckoo land" if it expected to retain current airport handling fees. Vinci's £516 million hostile bid is conditional on TBI reaching a settlement with easyJet on passenger and baggage handling fees at Luton airport on terms "no less favourable" than the current contract. Shortly after the easyJet comments, TBI shares had fallen 2.55 per cent to an intraday low of 9 1/2p, as investors weighed up the risk of the bid failing.