Ryanair to swoop on Aer Lingus

BUDGET airline Ryanair today revived its takeover interest in Dublin-based airline Aer Lingus.

Announcing its intention to make an offer for Aer Lingus, the budget carrier said it planned to merge the two airlines into "one strong Irish airline group" while still operating as two distinctive brands.

The company already owns 30 per cent of the shares in Aer Lingus, which operates a number of routes from Edinburgh Airport.

But today's cash offer of £1.16 per share would see it take a 100 per cent stake if accepted.

Ryanair chief executive Michael O'Leary said that the new group would have the financial strength to compete with Europe's three major airline groups – Air France, British Airways and Lufthansa.