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Ryanair's O'Leary eyes Stansted buy
08.08.08
In the history of Michael O'Leary wind-ups this is probably the biggest yet.
But the Ryanair boss's outlandish claim that he wants to buy Stansted Airport has, as usual, won him free publicity to highlight something he sees as a problem for his airline.
O'Leary yesterday boldly declared that he would table a £2 billion bid for Stansted if the airport north-east of London becomes available to buy.
"We'd be in like a bandit," he told the Daily Telegraph. "BAA knows we're interested."
O'Leary is currently in a battle with Stansted, accusing it of using its monopoly position (its owners BAA run Heathrow and Gatwick as well) to overcharge on take-off and landing fees - which are Ryanair's single biggest cost after fuel.
In reality, the chances of O'Leary ever getting his hands on London's third airport are very slim.
Firstly the airport is not up for sale. Secondly, if BAA were forced by the competition authorities to break up its London monopoly, it is likely that Gatwick would be the airport jettisoned.
Thirdly, if Stansted were ever to go up for sale Ryanair would be easily outgunned by the plethora of international investment funds and construction companies which have been buying the world's airports.
And even if O'Leary were to put a knockout offer for Stansted on the table, the competition authorities would be all over an airport owner which is also the airport's biggest user.
