British Airways-owner International Airlines Group appears to have won its battle to add Aer Lingus to its hangars, after the Irish carrier’s board recommended a sweetened €1.36 billion (£1 billion) takeover bid.
IAG’s offer of €2.55 per share is its third in six weeks, up from an original €2.30-a-share offer.
The carrier still has to convince the Irish government — which owns a quarter of Aer Lingus — and the competition authorities to give the deal the go-ahead.
IAG’s chief executive Willie Walsh — who was boss of British Airways before it merged with Spain’s carrier, Iberia — started his career as an Aer Lingus pilot and worked his way up to be chief executive of the Irish airline.
He said Aer Lingus would be run “as a separate business with its own brand, management and operations, continuing to provide connectivity to Ireland.”
But IAG is expected to use some of Aer Lingus’ slots at Heathrow to launch new emerging market routes.
