Aer Lingus rejects takeover offer from IAG

The company, which owns British Airways, confirmed rumours of their bid in a statement today

Aer Lingus rejects takeover offer from IAG

Photocall file photo

British Airways owner IAG says that Aer Lingus has rejected a takeover offer.

In a statement, IAG confirmed that it had submitted an offer and that it had been rejected by Aer Lingus.

Earlier, Aer Lingus shares had jumped 14 per cent after the Financial Times reported that IAG was considering a bid.

A deal would have given it valuable access to landing slots at Heathrow, as Aer Lingus is the third-biggest airline at the airport.

Any takeover would require the backing of Ryanair and the Government, as they both hold stakes in the company.