Well it had to happen, and the result is an outwardly happy outcome for all concerned.
Ryanair’s board has voted unanimously to sell its 29.8 per cent stake in Aer Lingus to International Airlines Group (IAG), the parent company of British Airways.
Despite a long running campaign in and out of the Courts by Ryanair to keep hold of its stake in its Irish rival, it was finally ordered to sell its stake by the competition regulators in 2012. The airline has accepted the IAG’s offer as it “maximises Ryanair shareholder value”.
Former aviation hell-raiser (and now Mr Nice Guy) Michael O’Leary commented: "We believe the IAG offer for Aer Lingus is a reasonable one in the current market and we plan to accept it, in the best interests of Ryanair shareholders."
Ryanair will make a small profit on its 9 year investment investment in Aer Lingus.
Ryanair's share price went up a few ticks (by 2.2 per cent) following the announcement.
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