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8/30/2017, 5:47 PM (Source: TeleTrader)
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Ryanair gives up on bid for Air Berlin

The process of resolving the situation in Germany's bankrupt airline isn't fair and open, RyanairHoldings Ltd.'s Michael O'Leary told the press on Wednesday and revealed the low-cost carrier decided against making an offer for any part of Air Berlin Plc and Co. Luftverkehrs KG. "We aren't getting involved in this process because it's a stitchup," the chief executive said, reiterating accusations against the government and Deutsche Lufthansa AG. 

The insolvency was "triggered to put maximum pressure on politicians" in the runup to next month's election in Germany, he claimed and added his company went to regulators in the country and the European Union to look into the "conspiracy." O'Leary went further to express the view the domestic antitrust authority –the Federal Cartel Office, "is afraid" of people from Chancellor Angela Merkel's cabinet.

Emergency funding was triggered by the government in Berlin for the second-largest airline in the biggest economy of the Eurozone earlier this month when Etihad Airways decided to halt support. 

Breaking the News / IT