Aer Lingus for IAG

British Airways will now have total dominance of all air routes from British Isles airports into Heathrow after the Board of Ryanair Holdings Plc confirmed on Friday (10 July) acceptance of owner IAG's offer for Ryanair’s 29.8% shareholding in Aer Lingus Group Plc. 

The move is subject to the offer receiving regulatory approval from the European competition authorities.

Ryanair’s stake in Aer Lingus has been available for sale since May 2012 and is Board believes that the current IAG offer maximises Ryanair shareholder value.

In line with this decision, Ryanair will now vote in favour of the motion at the Aer Lingus EGM on the 16 July next (to give the Irish Government a golden share over Aer Lingus’s Heathrow slots) and Ryanair will also vote its 29.8% shareholding in favour of acceptance of the IAG offer.

The price on offer means that Ryanair will make a small profit on its investment in Aer Lingus over the past nine years. 

Details of any concessions and guarantees have not been published at this stage but are likely to be released in the next few days.

Whether Aer Lingus stays in T2 remains to be seen. T5 is already full but a terminal swop with other airlines at T3 is a possibility.   www.aerlingus.com   www.iairgroup.com

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Jo Kemp, Reading

Don't normally find myself in agreement with O'Leary but why it anti-competition for Ryanair to be involved with Aer Lingus but not IAG?