Aer Lingus rejects new IAG takeover offer

Irish carrier Aer Lingus has rejected a new, higher offer from IAG, parent company of British Airways, Iberia and Vueling saying that both of the offers undervalued its business.


Aer Lingus rejects new IAG takeover offer


Irish carrier Aer Lingus has rejected a new, higher offer from IAG, parent company of British Airways, Iberia and Vueling saying that both of the offers undervalued its business. Analysts suggest that what IAG is after primarily, is more take-off and landing slots at its home base, London Heathrow, giving it the freedom to operate more flights. Standing in the way of any acquisition of Aer Lingus is low-cost carrier Ryanair, which owns 29.9 per cent of the company. Ryanair has itself failed in its attempts to fully take it over. Another party that would have to agree to a deal is the Irish government, which owns 25 per cent of Aer Lingus.