Elon Musk escalated a very public brawl with Ryanair this week into takeover territory, floating the idea of buying Europe’s largest budget airline after the carrier rejected his Starlink in-flight Wi-Fi system.
The online spat began on January 16, when Musk called Ryanair CEO Michael O’Leary an “utter idiot,” polled his X followers on whether he should purchase the airline (76.5% voted yes across 900,000 votes).
O’Leary fired back with a “Big Idiot Seat Sale,” claiming the feud boosted Ryanair bookings by 2-3%.
How a Starlink row turned into takeover talk
The dispute started when O’Leary told Reuters he would not equip Ryanair’s 600-plus Boeing 737 fleet with Starlink.
Ryanair CEO flagged two core concerns for this decision pertaining to cost and aerodynamics.
He estimated the system would impose a “2% fuel penalty” due to antenna weight and drag, translating to $200-$250 million annually in added expenses.
O’Leary also pointed out that Ryanair passengers fly average routes of one hour, making them unlikely to pay for connectivity on such short hops.
Starlink claims 90% of travelers would pay, while Ryanair’s data shows fewer than 10% actually do.
Musk fired back on X, accusing O’Leary of being “misinformed” and dismissing the drag concerns as “basically zero.”
O’Leary doubled down on Newstalk radio, saying Musk possessed “zero” knowledge about aviation and labeled X a “cesspit.”
When X suffered an outage on January 19, Ryanair mocked Musk with a post: “Perhaps you need Wi-Fi?”
Musk hit back with a takeover threat: “Should I buy Ryanair and appoint someone named Ryan in charge?”
The stakes matter because major competitors are moving fast on Starlink.
Lufthansa announced a partnership on January 15; Qatar Airways, United, and Air France are installing or planning installations.
Reality check: Why a buyout may not happen
Beneath the X theatrics ownership law sits as a giant wall.
Under EU Regulation 1008/2008, any airline operating within the bloc must be majority-owned and effectively controlled by EU nationals.
Non-EU nationals may hold a maximum of 49.9% and cannot control voting rights.
Musk, a US national, cannot own Ryanair outright, and attempting a takeover would face immediate regulatory rejection.
Ryanair’s valuation adds another layer of friction.
As of mid-January 2026, the airline’s market capitalization stands at approximately $36.47 billion USD (€38.92 billion).
That price tag alone presents a financing hurdle for a hostile bid, though not too big for Musk’s net worth.
However, EU rules are non-negotiable. O’Leary clarified this on Wednesday: “Non-European citizens cannot own a majority of a European airline.”
A handful of scenarios remain theoretically possible as Musk could acquire a minority stake under the 49.9% cap, or partner with EU investors to create a compliant structure.
But neither of the above options would grant him operational control or the power to force Starlink onto the fleet.
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