Irish LCC makes new bid for Ireland’s national carrier
The Irish low-cost carrier Ryanair has made another takeover bid for Ireland’s national carrier Aer Lingus. Valuing Aer Lingus Group at €694 million, the all-cash offer was presented after European financial markets closed on Tuesday.
Ryanair currently owns 29.4% of Aer Lingus, but the national airline has for years wanted Ryanair to be legally forced to sell its shareholding on grounds of unfair competition. The LCC’s previous takeover attempts have been blocked by the European Commission and the Irish government, which holds a 25% stake in Aer Lingus, opposes a sale to Ryanair.
As reported in TTG Nordic, Etihad Airways bought a stake of 2.987% in Aer Lingus at the start of May.