Ryanair: Aer Lingus bid ‘unlikely’

AER LINGUS will this week outline its plans for hundreds of job cuts and the possible scrapping of its Shannon/New York route as Ryanair quashes rumours of a third bid.

Ryanair chief executive Michael O’Leary wasreported as saying he expects Aer Lingus to launch a rights issue within the next 18 months, which would enable Ryanair to become the majority shareholder without the need to launch a third bid.

“We’d use our rights and end up as the majority shareholder,” Mr O’Leary is reported as saying. However, he said last night the airline’s position on Aer Lingus is it is “highly unlikely” to make a third offer.