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24 August 2012 10:22

Airline Aer Lingus has again urged shareholders to reject the latest offer by arch-rival Ryanair, saying the proposal "fundamentally undervalues Aer Lingus and represents a significant discount to the intrinsic value of the business".

The board of Aer Lingus wrote to shareholders in July outlining its reasons for recommending that shareholders reject Ryanair's offer to purchase the company.

In this latest release, the board said that no new information had been provided by Ryanair in relation to the offer and reaffirmed its recommendation that shareholders should reject the offer.