Ryanair admits defeat in Aer Lingus takeover bid

Ryanair has admitted defeat in its takeover bid for Aer Lingus but vowed to fight the decision in the courts.

Ryanair's takeover bid for Aer Lingus has been rejected. Credit: REUTERS/Yves Herman

The European Commission told the airline that the 694 million euro (£596.7 million) buyout plan would be rejected.

The low-cost carrier claimed European chiefs were holding it to much higher standards than any other EU airline.

Ryanair spokesman Robin Kiely said: "It appears clear from this morning's meeting that no matter what remedies Ryanair offered, we were not going to get a fair hearing and were going to be prohibited regardless of competition rules."