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EU: Commission approves IAG takeover of Aer Lingus

By  |  July 14, 2015

IAG has gained European Union antitrust approval for its 1.3-billion-euro bid for Irish carrier Aer Lingus after agreeing to make concessions to ease competition worries, the EU Commission said on Tuesday.

IAG’s plan to buy Aer Lingus and build a new transatlantic hub at Dublin airport won the support last week of Ryanair, which holds a 30 percent stake in its rival, after convincing the Irish government to sell its 25 percent stake in May.

Reuters reported on Friday that British Airways-owner IAG was set to win approval after improving concessions, including giving up some airport slots in London and agreeing to special agreements with rivals, clearing the last hurdle for a takeover that dragged on for months.

“These commitments adequately address all competition concerns identified by the Commission,” the Commission said in a statement.

Full content: The Irish Times

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