China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
Ryanair interested in Stansted airport bid: report
LONDON (Reuters) - Michael O'Leary, chief executive of low-cost airline Ryanair (RYA.I), said the company is interested in launching a takeover bid for Stansted airport, The Daily Telegraph reported on Friday.
A Ryanair spokeswoman declined to comment.
O'Leary told the newspaper that he was convinced the UK Competition Commission's investigation into Stansted-owner BAA, which is controlled by Spain's Ferrovial FER.MC, would recommend breaking up the airports operator, which would open the door for a bid of around 2 billion pounds ($3.9 billion).
"While we believe the break up of BAA would improve competition and, therefore, benefit airlines, a Ryanair bid would likely come under microscopic scrutiny from a competition perspective, as it is Ryanair's largest base," Goodbody Stockbrokers analyst John Goode said.
O'Leary also said that he would increase passenger numbers from 24 million to 40 million by halving landing fees and building a second runway and terminal.
The move comes after BAA this week started legal action against the airline after it refused to pay a 15 percent increase in landing charges at the airport, which is its biggest base.
(Reporting by Marc Roca in London and Jonathan Saul in Dublin)
