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Ryanair bids to buy Aer Lingus

5 October 2006

Low-cost airline Ryanair has unveiled an offer worth £1 billion to buy the Irish carrier Aer Lingus.

Chief executive Michael O’Leary said the move represented a “unique opportunity” to form a strong airline for Ireland with more than 50 million passengers annually.

Ryanair has already acquired a 16% stake in Aer Lingus – which was listed on the stock market last month – and will make an offer for the rest in a move valuing the carrier at £1 billion.

source: SouthLondon.co.uk

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