Ryanair has increased its stake in Irish rival Aer Lingus to just over 29%, despite having a takeover bid ruled out by the European competition commissioner.
The move gives Ryanair a bigger stake in Aer Lingus than the Irish government
The budget carrier is expected to appeal against Brussels’ ruling shortly. Commissioner Neelie Kroes said combining the two carriers would harm passengers in the Irish market.
Technically, Ryanair would be required to mount a second takeover attempt if its share in Aer Lingus reaches 29.9%. However, it is barred from doing so by the competition ruling. Ryanair currently holds 29.4%.