Tue, 31st Jul 2012
Aer Lingus has issued a letter to its shareholders urging them to reject Ryanair's bid for the business.
The low fares airline has offered 694 million euro for Aer Lingus - or 1 euro 30 cent per share.
The letter, from the Chairman of the board of Aer Lingus Colm Barrington, says the offer undervalues the airline and is likely to be rejected again by the European Commission on competition grounds.
Meanwhile, Aer Lingus has reported a pre tax loss of 24.5 million euro for the first half of the year.