Ryanair willing to sell Aer Lingus stake; has not received approach from IAG
Ryanair has for some time been prepared to dispose of its Aer Lingus stake and is willing to entertain offers, the Irish Examiner reported. Kenny Jacobs, chief marketing manager at Ryanair, said the Irish airline has not received any approach for its 29.8% holding from the Anglo-Spanish carrier IAG, which has recently made two rejected offers for Aer Lingus.
Quoted in an Irish Independent piece, Jacobs said Ryanair would have no concerns about Aer Lingus being acquired by IAG, adding that it would be an opportunity for Ryanair to secure a greater share of the European market.
IAG is expected to make a revised approach this week with an offer priced within the range EUR 2.50-EUR 2.70 per share, the Examiner report said. Jacobs predicted that other buyers are likely to emerge in future if IAG’s attempt fails, the item reported.
He added that the higher and lower ends of the European airline market are likely to consolidate in the next few years; when asked if Ryanair would participate in the consolidation, Jacobs replied that the business would look at any viable potential targets as it pursues growth.
Source Irish Examiner