IAG secures DOJ nod and key votes for Aer Lingus acquisition | Government

IAG, which also owns Iberia and Vueling, is close 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 US backing also was a condition of the offer.

At the meeting, Aer Lingus chairman Colm Barrington had said IAG could be in control of the airline “within two weeks” if the takeover goes ahead.

The commission had expressed concerns that the takeover would lead to insufficient competition.

Last week Ryanair agreed to sell its almost 29.8 per cent stake in Aer Lingus.

IAG, the owner of British Airways, is paying 2.55 euro a share for Aer Lingus.

It said that as it stood, the deal would have stopped “Aer Lingus from continuing to provide traffic to the long-haul flights of competing airlines on several routes”.

The Government, a 25.1% shareholder in the Irish airline, lodged the necessary documentation for the sale this evening.

Michael O’Leary’s low-fares carrier had made unsuccessful attempts to buy Aer Lingus.

IAG’s plans include building a new transatlantic hub at Dublin airport.

Worldwide Consolidation Airlines Group SA said Thursday its recommended cash offer for Aer Lingus Group PLC has been extended and will remain open until 1300 BST July 30.