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| Version 1 | Version 2 |
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| Airline shares jump as Ryanair agrees Aer Lingus stake sale | |
| (about 7 hours later) | |
| Shares in airlines have jumped after Ryanair voted to accept International Airlines Group's (IAG) offer for its 29.8% stake in Aer Lingus. | |
| Ryanair and IAG shares were up almost 3%, while Aer Lingus was up 1.8%. | |
| The formal acceptance paves the way for the €1.3bn (£940m) bid by BA and Iberia owner IAG for Aer Lingus to go ahead. | The formal acceptance paves the way for the €1.3bn (£940m) bid by BA and Iberia owner IAG for Aer Lingus to go ahead. |
| It is subject to backing by competition authorities. European Union approval is now the last remaining hurdle to the tie-up. | |
| IAG's plans include building a new transatlantic hub at Dublin airport. | IAG's plans include building a new transatlantic hub at Dublin airport. |
| Wild | Wild |
| Ryanair's chief executive Michael O'Leary said in a statement: "We believe the IAG offer for Aer Lingus is a reasonable one in the current market and we plan to accept it, in the best interests of Ryanair shareholders. | Ryanair's chief executive Michael O'Leary said in a statement: "We believe the IAG offer for Aer Lingus is a reasonable one in the current market and we plan to accept it, in the best interests of Ryanair shareholders. |
| "The price means that Ryanair will make a small profit on its investment in Aer Lingus over the past nine years." | "The price means that Ryanair will make a small profit on its investment in Aer Lingus over the past nine years." |
| Ryanair has attempted to buy Aer Lingus three times. Its takeover quest began in 2006, just after Aer Lingus was floated on the stock market by the Irish government. | Ryanair has attempted to buy Aer Lingus three times. Its takeover quest began in 2006, just after Aer Lingus was floated on the stock market by the Irish government. |
| Ryanair's initial bid illustrates the wild swings in Aer Lingus's value since then. Its first offer was €2.80 a share. The second, two years later, was half that and its most recent offer in 2012 was €1.30 a share. | Ryanair's initial bid illustrates the wild swings in Aer Lingus's value since then. Its first offer was €2.80 a share. The second, two years later, was half that and its most recent offer in 2012 was €1.30 a share. |
| Offer details | Offer details |
| The Irish government, which sold its 25% stake in Aer Lingus to IAG in May, recommended that Ryanair accept IAG's offer. | The Irish government, which sold its 25% stake in Aer Lingus to IAG in May, recommended that Ryanair accept IAG's offer. |
| The deal values Aer Lingus shares at around €2.50 (£1.87) per share. | The deal values Aer Lingus shares at around €2.50 (£1.87) per share. |
| Aer Lingus is Heathrow Airport's fourth busiest operator, behind BA, Lufthansa and Virgin Atlantic. | Aer Lingus is Heathrow Airport's fourth busiest operator, behind BA, Lufthansa and Virgin Atlantic. |
| If the deal is approved, IAG would gain more take-off and landing slots at Heathrow Airport, allowing it to operate more flights. | If the deal is approved, IAG would gain more take-off and landing slots at Heathrow Airport, allowing it to operate more flights. |
| Ryanair said it had planned to use Aer Lingus to gain slots at mainstream airports. | Ryanair said it had planned to use Aer Lingus to gain slots at mainstream airports. |
| Travellers have been surprised in the past by the distance of some of Ryanair's airports from the city they thought they were flying to. | Travellers have been surprised in the past by the distance of some of Ryanair's airports from the city they thought they were flying to. |
| Michael O'Leary said Ryanair did not need Aer Lingus now: "Our original strategy for Aer Lingus (to use it as a mid-priced brand to offer competition to flag carriers at primary airports) has been overtaken by the successful rollout - since Sept 2013 - of Ryanair's "Always Getting Better" strategy, which has seen the Ryanair brand successfully enter many of Europe's primary airports." | Michael O'Leary said Ryanair did not need Aer Lingus now: "Our original strategy for Aer Lingus (to use it as a mid-priced brand to offer competition to flag carriers at primary airports) has been overtaken by the successful rollout - since Sept 2013 - of Ryanair's "Always Getting Better" strategy, which has seen the Ryanair brand successfully enter many of Europe's primary airports." |