×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: EU | Britain | Aer | Lingus | IAG

European Commission Clears Aer Lingus Takeover

Wednesday, 15 July 2015 10:40 AM

LONDON (AP) — The European Commission on Tuesday cleared the takeover of Irish airline Aer Lingus by International Airlines Group after securing measures to address competition concerns.

The commission said the deal was cleared after IAG agreed to give up some of its slots at London's Gatwick airport to allow rival airlines to operate the busy routes between London and Ireland.

"By obtaining significant concessions from the airlines the commission has ensured that air passengers will continue to have a choice of airlines at competitive prices after IAG's takeover of Aer Lingus," said Margrethe Vestager, European Commissioner in charge of competition policy.

IAG, which also owns British Airways and Spain's Iberia, agreed to release five daily slot pairs at Gatwick.

The carrier would also make agreements with rival airlines operating long haul flights out of airports including London, Manchester and Amsterdam so that Aer Lingus can continue to provide those airlines with connecting passengers.

IAG unveiled its 1.3 billion-euro ($1.45 billion) takeover bid for Aer Lingus in January.

The European Commission's approval came after Irish budget carrier Ryanair agreed on Friday to sell its nearly 30 percent stake in Aer Lingus to IAG.

That cleared a major hurdle in the deal — IAG had made its takeover bid conditional on acceptance by Ryanair. It also formally ended Ryanair's own nine-year effort to seize its Dublin-based competitor.

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
The European Commission on Tuesday cleared the takeover of Irish airline Aer Lingus by International Airlines Group after securing measures to address competition concerns.The commission said the deal was cleared after IAG agreed to give up some of its slots at...
EU,Britain,Aer,Lingus,IAG
224
2015-40-15
Wednesday, 15 July 2015 10:40 AM
Newsmax Media, Inc.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved