Ryanair acquires 4% more of Aer Lingus

Ryanair, today confirmed that it had acquired a further 4% stake in Aer Lingus, taking its holding in Aer Lingus to over 29.4%.

These new shares were acquired at or less than €2.45 per share which lowers the average cost of Ryanair’s shares in Aer Lingus.

Confirming this purchase a Ryanair Spokesman today said: "This further investment in Aer Lingus, will make it easier for the other large shareholders (the Government and the unions) to support the forthcoming EGM motion to save the Shannon-Heathrow route while still supporting Aer Lingus’ new base in Belfast.

"Should Ryanair (with its 29% stake) abstain from voting at the EGM – as it has offered to do – then the Government (25%) and the ESOT (15%) will have a clear majority and can vote as shareholders to save the Shannon-Heathrow route.

"Interestingly, should the Government also decide to abstain then the ESOT (15%) and other Aer Lingus employees (approx. 7%) should have sufficient votes between them to comprise a majority of the remaining 45% of shareholders, and can vote to save the Shannon-Heathrow route, should they so wish.