Musk Floats Ryanair Takeover Amid Starlink Feud as Shares Dip
Dublin, Tuesday, 20 January 2026.
Musk floated acquiring Ryanair after a Starlink dispute, but EU laws requiring majority European ownership effectively prohibit the move, rendering his social media poll supporting a takeover legally moot.
Origins of the Dispute
The public altercation between the two executives began on Friday, January 16, 2026, when Ryanair CEO Michael O’Leary criticized Elon Musk during an interview on Irish radio [1]. O’Leary rejected the implementation of SpaceX’s Starlink Wi-Fi technology on Ryanair’s fleet of 650 aircraft, citing technical inefficiencies [1]. Specifically, O’Leary claimed that the Starlink antennas would impose a “2% fuel drag” on the aircraft, a penalty he estimated would add between $200 million and $250 million to the airline’s annual fuel costs of $5 billion [1]. During the interview, O’Leary dismissed the tech billionaire, stating, “I would pay no attention whatsoever to Elon Musk… He’s an idiot” [1].
Musk’s Social Media Retaliation
Following the broadcast, Musk responded on his platform X (formerly Twitter) on January 17, 2026, engaging directly with the criticism [1]. He posted a poll asking his followers if he should “Buy Ryan Air and restore Ryan as their rightful ruler” [1][3]. The poll generated significant engagement, with over 75% of the nearly 900,000 respondents voting in favor of the acquisition [1]. Musk further escalated the rhetoric by suggesting that O’Leary should be fired and replaced by someone actually named Ryan, stating it was the airline’s “destiny” [4][5]. In a separate post, Musk directed derogatory language toward O’Leary, calling for his dismissal [5].
Market Reaction and Corporate Response
Despite the viral nature of the exchange, financial markets reacted with caution. On Tuesday, January 20, 2026, Ryanair shares closed nearly 1% lower in Dublin, indicating that investors were not pricing in a serious takeover bid [1]. The airline, known for its irreverent marketing, capitalized on the feud by launching a “Big ‘Idiot’ Seat Sale” on January 20, 2026, explicitly referencing the insults exchanged [5]. O’Leary also announced plans to address what he termed Musk’s “Twitter tantrum” at a press conference in Dublin scheduled for the evening of January 20 [4].
Regulatory Barriers to Acquisition
While Musk possesses the capital to acquire Ryanair—which holds a market capitalization of approximately $36 billion [6]—structural hurdles in the European Union make a hostile takeover improbable. EU aviation regulations mandate that airlines operating within the bloc must be majority-owned and effectively controlled by EU nationals or citizens of associated states like Switzerland or Norway [1][4]. As a U.S. citizen, Musk would be prohibited from holding a controlling stake greater than 49% unless Ryanair were to fundamentally alter its ownership structure, a move that would likely result in the loss of its operating licenses [4]. Consequently, betting markets have pegged the probability of a successful acquisition at less than 10% [3].