Ryanair in Aer Lingus Takeover Bid

Posted on December 01, 2008 by Fiona Hilliard

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Michael O’ Leary moved one step closer to taking over the airline world today, offering €748 million for rival Irish airline Aer Lingus in which Ryanair owns a 30% stake. It looks like the recession is good news for O’Leary as his offer is just half of what he put on the table two years ago, before European regulators warned him off.

In a shock move announced to the Irish Stock Exchange this morning, Ryanair says it is offering €1.40 per Aer Lingus share. The airline already owns 29.82% of the former state carrier.
Aer Lingus said it noted the offer and would be making a statement in due course, but it urged its shareholders not to take any action in the meantime.

So what would a take-over by O’ Leary mean for passengers? Are lower fares worth lower standards? Leave us a comment and let us know what you think!

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Written by Fiona Hilliard

About the Author: Fiona likes to travel – especially to cities. Her favourites include: New York, London, Copenhagen, Madrid and Lisbon. Just don't mention budget airlines, baggage restrictions, airport security queues…

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