Pilots’ Aer Lingus stake hits Ryanair bid

11th Oct 2006

Aer Lingus pilots have purchased a two percent stake in the airline in a move that could help block a 1.48 billion euro ($1.86 billion) takeover offer by rival Ryanair, the Financial Times newspaper and Reuters news wire reported Wednesday.
A pension fund linked to the pilots purchased 8.5 million shares, the newspaper said, without citing sources.

On Monday, the Irish Times reported that Aer Lingus staff opposed to the bid by Ryanair were looking at blocking the deal by increasing employees’ 15 percent stake.


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