Is Elon Musk serious about buying Ryanair after his clash with Michael O’Leary?

Dubai: Elon Musk has publicly floated the idea of buying Ryanair, turning a heated online exchange with the airline’s outspoken chief executive into a moment that briefly jolted Europe’s aviation sector.

The suggestion followed a row between Elon Musk and Michael O’Leary over whether the Irish budget carrier should install Starlink satellite internet across its fleet. O’Leary dismissed the idea outright, arguing that the added antennas would increase fuel burn and drive up costs. Musk fired back on his X platform, calling that assessment “misinformed,” setting off days of insults traded in public.

The spat took a turn when Musk asked his followers whether he should buy Ryanair, Europe’s largest airline by passenger numbers and one valued at roughly €30 billion. In one post, he wrote, “Should I buy Ryan Air and put someone whose actual name is Ryan in charge?” A follow-up poll drew hundreds of thousands of responses, with a clear majority voting yes.

A feud that spilled into markets

Ryanair’s own social media account joined the exchange, mocking Musk during an outage on X by suggesting he might need Wi-Fi himself. Musk responded with a pointed question of his own: “How much would it cost to buy you?”

Despite the noise, investors appeared unconvinced. Ryanair shares closed lower after the comments, suggesting markets viewed the episode as posturing rather than the opening move of a serious bid.

Still, Musk’s history has kept the idea from being dismissed entirely. In 2017, he joked online about buying Twitter after being prompted by a journalist. Five years later, he completed a $44 billion acquisition of the platform, later renaming it X.

Why the argument began

The clash began when O’Leary was asked on Irish radio whether Ryanair would follow airlines such as Lufthansa and British Airways in installing Starlink, the satellite internet service operated by Musk’s SpaceX.

“I would pay no attention whatsoever to Elon Musk,” O’Leary said. “He’s an idiot. Very wealthy, but he’s still an idiot.” He argued that fitting Starlink antennas would create drag, lifting Ryanair’s annual fuel bill by $200 million to $250 million and adding about a dollar per passenger. Passengers, he said, would not pay for onboard internet.

Musk responded by questioning O’Leary’s understanding of aviation, calling him misinformed and later suggesting he should be fired.

Regulatory reality check

Any takeover would face formidable hurdles. European Union rules require airlines based in the bloc to be majority owned and controlled by EU nationals or citizens of a small group of associated states. Musk, born in South Africa and now a US citizen, would struggle to meet those requirements without complex structuring.

Ryanair’s board already monitors ownership closely. The airline has warned that breaching EU ownership thresholds could lead to restrictions on voting rights or removal from certain stock indices.

- With inputs from Bloomberg.