IAG returns with new bid for Aer Lingus

• International Consolidated Airlines Group (OTCPK:ICAGY), the owner of British Airways and Iberia, has made another takeover approach to Aer Lingus (OTC:AIRXY), offering €2.50 per share, or around €1.3B euros in total for the Irish airline, Sky News reports.
• Buying Aer Lingus would give British Airways more take-off and landing slots at London Heathrow Airport and would likely improve the Irish carrier's profitability by combining some operations with those of IAG.
• An acquisition would also need the backing of budget airline Ryanair (NASDAQ:RYAAY), which holds a 29.8% stake in Aer Lingus, and the Irish government, which holds a 25.1% stake.