Ryanair in divi call to Aer Lingus

Michael O'Leary, outspoken boss of low-cost airline Ryanair, fired off his latest attack on rival Aer Lingus today, calling on it to pay a special dividend of 110 million (£96 million). Ryanair is Aer Lingus' biggest shareholder with a near-30% stake.

Writing to Aer Lingus chairman Colm Barrington, O'Leary said: "Sadly with a market cap of under 320 million, and net cash of over 350 million, the market now attributes a value to the Aer Lingus business under your board and management of less than zero."

Echoing strangely easyJet's decision to pay a special dividend in a bid to pacify founder Stelios Haji-Ioannou, O'Leary demands a 20 euro cent one-off dividend.