IRISH carrier Aer Lingus has published a 30-page circular urging shareholders to reject a revised takeover bid by rival airline Ryanair.
The former state carrier, which reported an operating loss of £3.4m in the first six months of the year, reiterated claims that Ryanair’s offer of £1.02 undervalues the business.
Air Lingus chief executive Christoph Mueller said the airline has produced a good trading performance in the seasonally weak environment.
It reported an 83.6% reduction it operating losses so far in 2012 from £20.9m in the same period last year.
