Ryanair in new Aer Lingus offer

Europe's largest low fares airline Ryanair today announced a fresh bid for rival Irish airline Aer Lingus. The deal which would value Aer Lingus at 748m euros ($950m; £619m) would allow the combined airline to control more then 80% of European flights to and from Dublin airport.

Ryanair's previous offer for Aer Lingus, which valued it at 1.5bn euros, was blocked by the European Commission on competition grounds, however Ryanair have said that since its last offer was blocked by the Commission, there had been big changes in the sector. Currently Ryanair owns 29.82% of Aer Lingus. Ryanair has requested early meetings with representatives of both groups as well as the management of Aer Lingus.