Ryanair 'misleading trust members': Aer Lingus

The bitter battle for Aer Lingus intensified today when the airline accused rival Ryanair of making “seriously misleading” comments in its bid to win control.

Aer Lingus said a statement issued by Ryanair yesterday which urged staff to accept the €1.5bn offer contained “a number of serious inaccuracies and misrepresentations”.

It pointed to a claim by Ryanair chief executive Michael O’Leary that members of the influential Aer Lingus Employee Share Ownership Trust (ESOT) were in line for an average payout of €60,000 each if the takeover was successful.

Aer Lingus today said the claim was “incorrect and seriously misleading” and said the figure was in fact €32,500.

The 4,665 members of ESOT are likely to play a key role in the outcome of the takeover battle as it now owns a 12.58% stake in the company.

Mr O’Leary, 45, currently holds a 19.2% stake in Aer Lingus and needs to take it up to more than 50% to gain control.