Even though Ryanair agreed to sell its 29.8% share in Aer Lingus in July to International Airlines Group (IAG), the formal acceptance has only now been confirmed by the Irish low-cost carrier.
IAG chief executive Willie Walsh said: “We’d like to welcome Aer Lingus into IAG. It will remain an iconic Irish brand with its base and management team in Ireland but will now grow as part of a strong, profitable airline group. This means new routes and more jobs benefitting customers, employees and the Irish economy and tourism."
Yesterday, IAG had received valid acceptances of the offer for 95.77% of the existing issued share capital of Aer Lingus. The offer will remain open until Sept. 1 for any Aer Lingus shareholders who have not yet accepted.
Aer Lingus will apply for cancellation of its share listings and trading of Aer Lingus shares on the Irish Stock Exchange and London Stock Exchange, expected on September 17. Any outstanding shares will then be acquired compulsorily and the airline re-registered as a private company.
