Ryanair board agrees to sell Aer Lingus stake

Ryanair to sell stake in rival carrier to International Airlines Group
The board of Ryanair has agreed to sell its stake in rival carrier Aer Lingus to International Airlines Group. The decision removes one of the last remaining hurdles to the completion of the deal, with only European Union approval now needed.
Ryanair currently holds a 29.8% stake, with the Irish government holding 25%. The deal is worth €1.3 billion.
“We believe the IAG offer for Aer Lingus is a reasonable one in the current market and we plan to accept it, in the best interests of Ryanair shareholders,” Ryanair’s chief executive Michael O’Leary said. “The price means that Ryanair will make a small profit on its investment in Aer Lingus over the past nine years.
He added: “We wish IAG well with their takeover of Aer Lingus.”
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