Readers like you keep news free for everyone.

More than 5,000 readers have already pitched in to keep free access to The Journal.

For the price of one cup of coffee each week you can help keep paywalls away.

Support us today
Not now
Wednesday 29 November 2023 Dublin: 1°C
PA Wire/Press Association Images

Ryanair has voted to sell its Aer Lingus shares

The decision paves the way for the sale to IAG to be completed.

THE BOARD OF Ryanair has voted unanimously to sell its share of Aer Lingus, paving the way for the airline to be acquired by IAG.

Ryanair owns 29.8% of the former national airline, but their board has accepted the current IAG bid, which they say will gain the maximum value.

The news comes two months after the Irish government agreed to sell its 25% holding to British Airways owner IAG, which had launched a €1.4-billion-euro takeover bid for Aer Lingus.

RTÉ quotes Ryanair CEO Michael O’Leary as saying the deal was “reasonable”.

“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.”

O’Leary added that Ryanair would make a small profit on the money it has invested in Aer Lingus.

Read: Michael O’Leary wants to give Greeks free flights (but he thinks their leaders are lunatics)

Read: Ryanair had a cheap seats sale – but not everyone was impressed

Your Voice
Readers Comments
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.