Ryanair has offered €1.30 per share for the 70 per cent of Aer Lingus it does not already own. The offer is almost 50 per cent higher than the average price of Aer Lingus shares in the last six months, and well ahead of the €1 per share price that Mr Varadkar previously indicated would be the minimum price acceptable to the Government.
Fianna Fáil’s transport spokesman Timmy Dooley called on the Government to use its shareholding in Aer Lingus to prevent Ryanair from taking control of the airline.
“The existence of Ryanair and Aer Lingus as separate, competing entities has transformed our tourism and business connectivity. Any material change to the separate status of these airlines would inevitably lead to reduced competition, increased fares and less choice,” he said.
Cabinet to discuss Ryanair’s new Aer Lingus bid (Irish Times)
(Photocall Ireland)
