Conor's Feed
Jul 31, 2015

China’s Bohai bids $2.6 billion for aircraft leasing firm Avolon

DUBLIN (Reuters) – China’s Bohai Leasing Co Ltd 000415.SZ has offered to buy Irish rival Avolon (AVOL.N: Quote, Profile, Research, Stock Buzz) for $2.55 billion, a 55 percent premium over its December initial public offering, the Irish firm said on Friday.

Avolon said it was considering Bohai’s $31 per share offer and a rival $30 per share bid from an unidentified bidder and was in contact with both parties.

Jul 30, 2015

Irish economy grows strongly as it looks to lead EU again

DUBLIN (Reuters) – Ireland’s economy grew by 1.4 percent quarter-on-quarter in the first three months of the year, in a recovery that is forecast to make it the fastest-growing economy in Europe for the second year running in 2015.

Ireland’s economy expanded by 5.2 percent last year, revised up on Thursday from 4.8 percent previously, its best performance since 2007 before a property crash plunged it into recession and triggered a fiscal and banking crisis.

Jul 27, 2015

Ryanair to use summer profits to slash winter fares

DUBLIN, July 27 (Reuters) – Ryanair raised its
annual passenger growth target to 14 percent on Monday, saying
it would drive capacity by using summer profits and falling fuel
prices to reduce fares in the winter.

But its share price fell 3 percent after it disappointed
some investors by not boosting its profit guidance for the year
after strong summer bookings, saying it was “too early in the
year” to change it.

Jul 2, 2015

Ryanair says to take legal action after Hertz ends partnership

DUBLIN (Reuters) – Ryanair is to launch legal proceedings against U.S. car rental firm Hertz after the two companies ended a long-running partnership in a dispute over how Ryanair sells its tickets, Europe’s largest low-cost airline said on Thursday.

Hertz, which lists Ryanair among its 20 key partnerships alongside Lufthansa, Etihad Airways and others, did not immediately respond to requests for comment.

Jun 26, 2015

Greece’s debt battle stirs austerity row in bailout poster-child Ireland

DUBLIN, June 26 (Reuters) – Greece’s bailout battle with
Germany is casting a long shadow in Ireland, dividing political
and public opinion over whether Dublin should stand alongside
Athens as a fellow bailout recipient or push to ensure the
Greeks don’t get an easy ride.

Greece is expected to feature heavily in an upcoming Irish
general election with the centre-right ruling party Fine Gael
already pointing to Greek woes to show it was right to ignore
calls to take a confrontational style with its EU-IMF creditors.

Jun 23, 2015

ECB raises emergency funds for Greece as backlash grows

DUBLIN/FRANKFURT, June 23 (Reuters) – The European Central
Bank increased its funding lifeline to Greece’s banks again on
Tuesday, sources with direct knowledge of the decision said,
allowing the country’s banks to stay open as Athens inches
towards a deal with creditors.

But the latest increase, which one of the people said
amounted to “a bit less than one billion euros”, prompted
warnings from politicians in Germany and Ireland.

Jun 22, 2015

Former RSA Ireland CEO awarded $1.4 million in unfair dismissal case

DUBLIN (Reuters) – An Irish tribunal has ruled in favor of the former Chief Executive of RSA Ireland, Philip Smith, in an unfair dismissal case and awarded him 1.25 million euros ($1.42 million), a representative for Smith’s lawyer said on Monday.

Smith sued British insurer the RSA for constructive dismissal saying he was effectively forced out of the company in late 2013 and made the “fall guy” by the company after an increase in claims meant its reserving came in for scrutiny by the Irish central bank.

Jun 18, 2015

EU undermined Ireland in markets to push bailout: top official

DUBLIN (Reuters) – European officials used anonymous media briefings to undermine market confidence in Ireland and increase pressure on the government to accept a bailout in 2010, the head of the finance ministry at the time said on Thursday.

Kevin Cardiff, the secretary general of the Department of Finance in November 2010, did not specify whether the officials were from the European Central Bank or European Union, the two bodies that wanted a bailout to ease wider market concerns.

Jun 11, 2015

Ryanair won’t move on Aer Lingus sale until after EU probe

DUBLIN (Reuters) – Ryanair (RYA.I: Quote, Profile, Research, Stock Buzz) is unlikely to agree to sell its 30 percent stake in Irish airline Aer Lingus (AERL.I: Quote, Profile, Research, Stock Buzz) until after an European Union competition probe that could take months, Chief Executive Michael O’Leary told Reuters on Thursday.

British Airways owner International Airlines Group’s (ICAG.L: Quote, Profile, Research, Stock Buzz) proposed 1.36 billion euro ($1.53 billion) offer for Aer Lingus was recommended by the Irish airline’s board in January, but the deal is conditional upon winning support from Ryanair.

Jun 10, 2015

First Irish housebuilder to float since 1997 makes strong debut

DUBLIN, June 10 (Reuters) – Cairn Homes, the first
Irish housebuilder to float in almost 20 years, made a strong
market debut on Tuesday, as investors bet on the robust recovery
of a property market still grappling with the fallout from the
financial crisis.

Shares in the company rose 5.5 percent on their first day of
trading on the London Stock Exchange, after it raised 400
million euros ($453 million) in a sale of new shares.