Business ShortsRyanair will not be able to re-open its London- Strasbourg route for at least another year, following a ruling in a French court.
The airline expressed dismay at the decision yesterday of the Nancy Court of Appeals to reject Ryanair's call for a stay on a decision by the Strasbourg Administrative Tribunal.
The tribunal's decision in August, that the Strasbourg Chamber of Commerce had to terminate its commercial contract with Ryanair, followed a legal action brought by Air France.
Ryanair's appeal against the decision will take about a year to come to court.
CityJet to fly into London City again
CityJet has announced it intends to resume flights into London City airport within the next two months.
The airline, which is owned by Air France, has been negotiating with the London City airport authorities and an agreement is expected to be finalised shortly.
Aer Lingus recently announced it intends to withdraw from the airport.
CityJet, based at Swords, Co Dublin, is a 100 per cent-owned subsidiary of Air France and employs more than 400 staff in both its Dublin base and at Paris Charles de Gaulle.
NTMA auction covered 2.7 times
The National Treasury Management Agency (NTMA) said yesterday that an auction of €600 million of 3.25 per cent Government bonds due in 2009 had been covered 2.7 times. The highest accepted price for the bonds was €98.49, yielding 3.551 per cent, while the lowest was €98.44, yielding 3.561 per cent.
Ormonde share placing approved
Shareholders in Ormonde Mining have approved the company's plans to raise some €1 million through the placing of 29.4 million new shares. Ormonde plans to use the funds to aid its gold exploration programme in northern Spain.
Premier Oil sees profits of €116m
Exploration company Premier Oil has reported operating profits of £81.1 million sterling (€116.5 million) for the first half of the year, up 54 per cent on the same period of 2002. Turnover at the firm rose by 27 per cent to £146.1 million over the same period.
