RYANAIR, the privately owned Irish airline, has launched a strong attack on Aer Rianta's landing charges, especially those at Dublin Airport, claiming they are far too high. The company says an independent study has shown that of all the airports it uses, Dublin is the most expensive.
It is concluding deals to buy up to seven new aircraft, costing in the region of £30 million and says it will not consider launching any of new routes from Dublin, unless charges are lowered.
"We are a low cost operator," Ryanair's chief executive Mr Michael O'Leary said yesterday. "The only costs we can cut are our operating costs. We cannot cut fares anymore.
Aer Rianta strongly rejected Ryanair's allegations last night. A spokesman said the Minister for Transport, Energy and Communications, Mr Lowry had asked Aer Rianta recently to look again at its landing charges to see whether they could be further reduced to stimulate further traffic growth.
The spokesman said the Minister had accepted Aer Rianta's charges were among the lowest in Europe.
Meanwhile, it has emerged that Dr Tony Ryan and his family received just under £50 million in cash for the airline, through a complex restructuring deal.
Dr Ryan and his sons sold the airline for £56 million to a new company, Glyndon. They then reinvested about £4 million in Glyndon and advanced loans of about £27.5 million to the new company, which will be renamed Ryanair Holdings.
The restructuring transformed Ryanair from a family trust into a private company.
US investor Mr Alan Bonderman who has replaced Dr Ryan as company chairman - paid £1 million and gave loans of £24 million in return for a 20 per cent stake in Ryanair Holdings.
Mr O'Leary said it was not a condition of the deal that Mr Bonderman assume the chairmanship.
"Dr Tony Ryan indicated some time ago that he wanted to step down as chairman in the medium term," he said.
Dr Ryan whose family still control Ryanair, was formerly chairman of GPA, the Shannon based aircraft leasing company he founded.
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