| 8.3°C Dublin

Ryanair looks to buy 25pc stake in Stansted

BUDGET airline Ryanair has outlined early plans to purchase a 25pc stake in London's third largest airport, Stansted.

Deputy CEO Michael Cawley said that the group hoped to make a bid within months.

The biggest customer at Stansted, Ryanair said it is examining proposals along with several groups and expects two serious bids to emerge.

It said that it is prepared to make a "modest commitment" as "anchor tenant".

The Competition Commission in 2009 ruled the British Airports Authority had too large a market share by owning three London airports and ordered it to sell Stansted and Gatwick.