Ryanair has said unless it receives support from Aer Lingus shareholders it will not proceed to the next phase of its proposed takeover of Aer Lingus.
The airline says phase one of its proposed merger has been lodged with the EU Competition Authority, if shareholders do not want the only takeover offer on the cards Ryanair says it will take its proposal off the table on 14 February.
Chief Executive Michael O'Leary said this morning that the offer for Aer Lingus will not be increased significantly.
But he said the airline would be open to the option of discussing with all shareholders the possibility of making a slight increase on price.
Speculation that the offer would go above €2 per share was ludicrous, he added.
He said the offer for a loss-making airline was generous and offered the Government an opportunity to recover 10% of revenue it needs to recover over the coming months.
Mr O'Leary said the Government could also be part of creating more than 1,000 jobs in the new Aer Lingus if it accepts a Ryanair bid to take over the airline.
Mr O'Leary said Aer Lingus does not have a future as a stand-alone entity.
Ryanair expects to meet soon with the Minister for Transport or his advisors to discuss the proposed takeover of Aer Lingus.
Mr O'Leary said meetings with Aer Lingus shareholders have been encouraging.
