British Airways owner International Airlines Group’s takeover of Aer Lingus given clearance for takeoff

By:

Add as a preferred source on Google

British Airways owner International Airlines Group (IAG) said today it's been given the go-ahead to buy budget Irish airline Aer Lingus, after the company received acceptances from more than half of shareholders.
 
The news brings IAG, which also owns Iberia and Vueling, a step closer to completing its €1.36bn (£951m) deal to take over the Irish flag carrier, having received the green light from the European Commission earlier this week. 
 
The group had to agree to relinquish five daily slot pairs at Gatwick airport to “facilitate the entry” of competing airlines on routes from London to Dublin and Belfast to satisfy the Commission’s conditions. 
 
European Commissioner in charge of competition policy Margrethe Vestager said: “By obtaining significant concessions from the airlines the Commission has ensured that air passengers will continue to have a choice of airlines at competitive prices after IAG’s takeover of Aer Lingus.”
 
Budget airline Ryanair agreed to give up its 29.8 per cent stake in Aer Lingus at the end of last week, and the Irish government said it would sell its 25 per cent stake in the airline to IAG in May.