Ryanair keen to acquire assets from lossmaking rivals, Norwegian, Alitalia
Ryanair [LON:RYA] is keen to take advantage of any takeover or restructuring deals in the sector which might offer acquisition opportunities, The Irish Independent reported.
Chief executive Michael O’Leary said significant divestments by lossmaking rivals as a result of competition issues are inevitable and Ryanair would be interested.
He named Norwegian Air Shuttle [OSL:NAS] and the collapsed Italian airline Alitalia as potential vendors. Norwegian is understood to be in line for a EUR 1.5bn offer from International Consolidated Airlines Group [LON:IAG], as reported yesterday, 21 May.
O’Leary predicted that rising fuel prices will cause Norwegian to “go bust” before the year end, a claim denied by a spokesperson for the Norway-based carrier, the item reported.
O’Leary also predicted consolidation within the European airline sector will result in only four or five major players, the item reported.