Ryanair has condemned a decision expected later this week by the European Commission to block its takeover of Aer Lingus.
The airline held a press conference in Brussels this morning to respond to indications that its takeover would not be allowed.
Ryanair claimed any decision to block the Aer Lingus buy would reverse 20 years of EU competition policy which has seen all other mergers between bigger airlines approved.
The airline also described the decision as 'politically motivated' and bad for consumers.
Chief executive Michael O'Leary described the expected decision as 'a political one to appease the Irish Government'. He said Ryanair would appeal to the European Court of First Instance to have it overturned.
Ryanair also said it would oppose any attempt to require it to sell its 25% stake in Aer Lingus.
In response, Aer Lingus chief executive Dermot Mannion said Mr O'Leary had sought to 'take out' his closest competitor and had failed. 'He is now lashing out in a vain attempt to disguise that failure,' said Mr Mannion.
The Aer Lingus chief executive said an EU decision to block the Ryanair takeover bid would be a boost for Aer Lingus and consumers.
In response to Michael O'Leary's comments that the EU executive was under political pressure to stop the deal, the European Commission said it did not bow to political pressure over the planned takeover.
Commission spokesman Jonathan Todd said: 'The Commission is under an obligation to be completely impartial and objective. The fact is that all Commission merger decisions are subject to challenges before the Court of First Instance and ultimately the Court of Justice.'
Meanwhile, Ryanair has begun buying back its own shares, spending almost €40m on buying eight million shares at a price of just under €4.95. The shares represent around 0.5% of the total share capital.
In its annual results statement earlier this month, Ryanair announced that it planned to buy back up to €300m of its own shares, or around 3.6% of the company. The buyback is seen as a way of returning money to shareholders as Ryanair does not pay a dividend.
