Aer Lingus takeover confirmed at cost of €1.4 billion

RYANAIR has accepted a bid from the company that owns both British Airways and Iberia for its 29.8 per cent share in the Irish airline Aer Lingus.

The deal was announced to the stock exchange on August 18 that as Ryanair had accepted an offer from IAG, that the takeover would now be completed and Aer Lingus shares would be delisted in September. Prior to this takeover, Ryanair had attempted to buy Aer Lingus on three separate occasions but without success.

IAG owns both British Airways and Iberia – both of which have a huge presence in Spanish skies – and is one of Europe’s largest airlines by income. The new member of the group flies to destinations all over Europe and the US, with a fleet of 50 aircraft.

Along with some smaller European airlines, Aer Lingus had recently been criticised for not giving passengers adequate information about their rights during flight disruption, but it’s reported their procedures will be brought into line with BA and Iberia under the new ownership.