IAG chief "relaxed" about timing of Aer Lingus takeover bid

Willie Walsh, chief executive of International Consolidated Airlines Group (IAG), on Wednesday said he is “perfectly relaxed” about the time it is taking to clinch a takeover deal with Aer Lingus.

The group, owner of British Airways and Spain's Iberia, has proposed a €1.36bn bid for Aer Lingus and is waiting on a decision by the airline's main shareholders, rival Ryanair and the Irish state, after it was recommended to the board in January.

“I'm perfectly relaxed about the timing. My board is very happy. Consistently I have said that this is a deal we would like to do," Walsh told reporters, according to Reuters.

He added that the airline reiterated its full-year operating profit forecast in excess of €2.2bn.

Ryanair chief executive Michael O'Leary at the weekend said the company had threatened to sue the UK competition watchdog for damages if it does not reverse a ruling on the company's stake in Aer Lingus.

The Competition and Markets Authority (CMA) is forcing the airline to cut its interest in Aer Lingus from 29.8% to just 5%.

In an interview with the Sunday Telegraph, Ryanair boss Michael O'Leary said: "If they don't reverse the decision we're going after them in court."