Government rejects Ryanair offer

The Government has rejected Ryanair’s offer of €1.40 per share for its 25.12% shareholding in Aer Lingus.

A statement said the decision had been taken on the basis that the Ryanair offer "greatly undervalues" the former state airline.

The Government contends that a merger would be likely to have “a significant negative impact” on competition in the market.

Speaking this afternoon, Transport Minister Noel Dempsey said the Government took the view that a monopoly in this area “would not be in the best interests” of Irish consumers.