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Aer Lingus no to takeover bid from IAG

The board of Aer Lingus has rejected a takeover approach from British Airways owner IAG, the company headed by the Irish airline's former chief executive Willie Walsh.

Shares in Aer Lingus finished 9pc higher yesterday, having rocketed by as much as 15pc after the Financial Times published a story linking IAG with an approach.

But the shares lost some of their gains after IAG confirmed the approach in a statement.

certainty

"International Consolidated Airlines Group (IAG) notes the recent movement in the share price of Aer Lingus and confirms it submitted a proposal to make an offer for the company, which has been rejected by the board of Aer Lingus," IAG said.

"There can be no certainty that any further proposal or offer will be forthcoming. A further statement will be made if and when appropriate."

Separately yesterday, Aer Lingus Regional said it carried just over 1.2 million passengers between January and November this year, marking a 20pc increase on the corresponding period last year. Operated by Stobart Air under a franchise agreement with Aer Lingus, the airline said that November was its 17th consecutive month of growth.

Last month, the carrier flew almost 89,000 passengers. That was 2pc higher than in October.

The figures also include passenger numbers for its operation out of Shannon. Last month, Stobart Air said it would terminate its routes out of Shannon from early January. That will result in the loss of 20 flights a week at the airport.

The airline operates services from Shannon to Edinburgh, Bristol and Birmingham using the Aer Lingus Regional brand.

Stobart Air also operates some services for UK-based FlyBe and Dublin-based CityJet.

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