Ryanair has lost its latest bid to challenge an investigation into its Aer Lingus shareholding by UK competition authorities.
The UK's supreme court today refused the airline leave to appeal last week's ruling that the Office of Fair Trading (OFT) was entitled to ask the Competition Commission to examine Ryanair's holding in Aer Lingus.
Although the court had refused the airline leave to appeal that ruling to the supreme court, Ryanair had 28 days to apply directly to the supreme court for permission.
The airline claimed the OFT was “not in time” with its investigation of its 29.8 per cent shareholding in Aer Lingus.
In a statement today, the airline said it was looking forward to the UK competition commission’s review, and was confident it would reach the conclusion that it could not be forced to sell its stake.
Ryanair’s Stephen McNamara described the investigation as “yet another bureaucratic waste of UK taxpayers’ funds and resources”.
Aer Lingus welcomed the court’s decision, saying the OFT could “proceed swiftly” to complete its investigation.