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UK: Aer Lingus turns down offer from British Airways owner

By  |  December 18, 2014
UK: Aer Lingus turns down offer from British Airways owner

Irish airline Aer Lingus has reportedly turned down a buyout offer from the parent company of British Airways, reports say. International Consolidated Airlines Group issued a statement to the London Stock Exchange Thursday confirming that Aer Lingus rejected its takeover bid. IAG, which owns British Airways and Spain-based Iberia, did not indicate how much it offered for the airline and said it is not set on making a new offer for the company.

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    Aer Lingus has been fending off takeover attempts in recent years, most notably by fellow budget airline Ryanair. While Ryanair was looking to fully acquire Aer Lingus, the UK’s former Competition Commission ordered Ryanair to reduce its stake in the Irish carrier to 5 percent. The order led to significant legal battlesA ruling on Ryanair’s appeal of the order is expected Friday, reports say.

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