Irish telecoms tycoon Denis O'Brien should sell his private jet and use Ryanair's low cost flights instead, a business rival has said.
Mr O'Brien snapped up a €32 million stake in Aer Lingus on Wednesday to help stave off a takeover bid by Michael O`Leary`s budget airline.
Mr O'Leary today announced details of his formal offer for Aer Lingus but warned he will seek significant job losses at the state carrier. He will confirm his €2.80 offer to shareholders by letter on Monday and a notice on the airline`s website.
However the ebullient chief executive denied that Mr O'Brien had scuppered his takeover offer by buying up a 2.2 per cent stake this week.
"Poor tax exiles in Malta like Denis O`Brien should trade in his corporate jet and use Ryanair's €22 low-cost fares," he said.
"He will make a significant saving on his Challenger 5 or whatever he is flying on this week." He added: "If Denis wants to check in his bag, it will only cost him an extra luggage charge of €3.50."
Mr O'Leary, 45, and Mr O'Brien, 48 clashed before when a Ryanair advertising campaign poked fun at the tycoon. Ryanair shocked stock markets when he made an audacious bid for Aer Lingus more than two weeks ago.
Mr O'Leary dismissed fears of a monopoly if he is successful and said both airlines will compete vigorously. The Government, Aer Lingus' largest shareholder with a 28 per cent stake, has already said it will not sell its shares, and the company's board and unions also oppose the offer.
But Mr O'Leary said: "Because the two airlines will compete vigorously, this will not lead to a monopoly. In any event, the question of a monopoly does not arise as there are 50 other scheduled airlines competing with Ryanair and/or Aer Lingus at Dublin airport."