IAG set to take over Aer Lingus
IAG is set to complete its takeover of Aer Lingus after Ryanair said it would accept the offer and a source familiar with the matter told Reuters the British Airways-owner would gain conditional EU approval.
IAG’s plan to buy Aer Lingus and build a new transatlantic hub at Dublin airport depended on agreement from Ryanair, which holds a 30 per cent stake in Aer Lingus, and the Irish government, which agreed to sell its 25 per cent stake in May.
It is set clear the final hurdle and gain European Union antitrust approval for the 1.3-billion-euro ($1.5-billion) bid after improving concessions to ease competition worries, a person familiar with the matter said on Friday. | READ MORE