Aer Lingus third buyout bid by Ryanair

Aer Lingus flights have been facing turbulence for quite some time now. The airline has been unable to gain profits through the sale of Aer Lingus flights tickets. The mounting losses have prompted the cash-strapped Irish government to sell its stake in the state-owned airline.

Ryanair, leading European budget carrier, recently launched a surprise new buyout bid for the third time yet prompting the Irish government to ease its financial woes and sell its key stake in Aer Lingus finally.
 
Ryanair is offering $880.7 million to take over the ailing Aer Lingus. Dublin-based Ryanair said it is now offering $1.65 per share, which is a 38 percent premium over the current share price of Aer Lingus.

Earlier, in 2006 Ryanair launched a hostile takeover of Aer Lingus soon after the Irish government floated the state-owned carrier on the Irish and British stock exchanges. However, the Irish government had then refused to sell off its remaining 25 percent stake. Ryanair currently remains Aer Lingus’ largest shareholder with a 29.8 percent stake in the airline.