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Old Oct 5, 06, 6:39 am
Original Member
Join Date: May 1998
Location: Portland OR Double Emerald (QF and AA), DL PM/MM, Starwood Plat
Posts: 19,389
A classic taxpayer rape IPO; it was originally to be issued at 2.80 per share, and reduced to 2.20 due to "market conditions"....obviously Ryanair thinks 2.80 per share was a fair price. Presumably the motivation is twofold; to buy assets cheaply and to develop a fortress hub at DUB. The effectiveness of the latter depends a lot on how the airport reacts (another Ryanair initiative is to try to browbeat DUB airport into not building a new terminal per their current plan, but to have Ryanair build a new terminal per its own plan, at half the cost). Which is a great plan for Ryanair, as it effectively locks out future LCC competition at DUB due to lack of airport space.
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