British Airways owner IAG makes €1.36bn Aer Lingus move
IAG, parent firm of British Airways, has made a revised offer of €1.36bn to purchase Irish flag carrier Aer Lingus.
The airlines board will now consider the offer in conjunction with Ryanair and the Irish government, which own 29.8 per cent and 25.1 per cent of the airline respectively, after roundly rejecting two previous bids last year.
The carrier has long been a target for IAG in order to secure its 23 pairs of take-off and landing slots at Heathrow Airport, worth £690m, which would allow BA to offer far more flights from its London hub.
Aer Lingus reported its best summer in years during a recent trading update with operating profits rising by 19 per cent to hit £88.5m.
Previous bids have stalled however amidst concern within the Irish government over the potential impact on jobs, flights and the Aer Lingus brand.