Ryanair dismisses O’Brien’s purchase of Aer Lingus shares

Ryanair has dismissed Denis O'Brien's purchase of shares in Aer Lingus, saying it is still pushing ahead with its move to gain a controlling stake in the airline.

Mr O'Brien announced yesterday that he had bought just over 2% of shares in the national carrier, saying he did so to try and block the Ryanair takeover bid in the interest of competition.

However, Ryanair deputy chief executive Michael Crawley said today that the move would not stop its efforts to gain control of Aer Lingus.

"We're still looking at 54-55% of the shares including our own 19% in hands of people who have not declared their position," he said.

"We're still in a position to gain a majority share."