The BBC has reported that Aer Lingus will be taken over by International Airlines Group (IAG), the parent company of British Airways and Iberia Airlines. According to several news sources, IAG pitched its latest proposal at €2.50 a share, valuing Aer Lingus at about €1.3 billion (approx. US$1.5 billion).

The Irish Government owns a 25.1 per cent stake in Aer Lingus, while Ryanair owns 29.9 per cent. If the board accepts the bid the government will have to make a decision to pass Ireland’s national airline out of Irish control.