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01/12/2008 - 07:54:49
Ryanair has announced plans to mount a fresh takeover bid for Aer Lingus in a move that it says will create "one strong Irish airline group".

Ryanair, which already owns almost 30% of its rival, says it will be offering €1.40 per share through its wholly owned subsidiary, Coinside Ltd.

It says this represents a premium of around 28% over the average closing price during the 30 days up to November 28th.

Ryanair says it plans to merge the two airlines, but keep them operating as separate entities with distinctive brands.

If the merger is successful, it also says it would double the size of Aer Lingus's short-haul fleet and create 1,000 new jobs in the airline.

Ryanair says a merged entity would establish Aer Lingus/Ryanair as one of Europe's big-four airlines, managed and headquartered in Dublin.