Shares in Aer Lingus rise sharply as Ryanair willing to submit more concessions
By 11.30 the stock was up more than 2pc at €1.23, its highest price in more than a year.
Competition authorities in the EU have twice blocked Ryanair from taking over Aer Lingus on competition grounds and up to know investors have expected the same outcome for this bid.
Yesterday however EU competition commissioner Joaquin Almunia said Ryanair would be making renewed efforts to ease potential competition issues “in the coming days”. Michael O’Leary’s airline has already offered to sell off most of Aer Lingus’s landing slots in London’s Heathrow.