Ryanair has said it is still possible that the airline will be able to complete its proposed takeover of Aer Lingus, despite the entry of Denis O'Brien into the battle for control of the airline.
Speaking to RTÉ News this morning, Ryanair's deputy chief executive Michael Cawley said their offer was 'generous'.
He stressed the Employee Share Ownership Trust has still not stated if it opposes Ryanair's takeover offer.
He added that Ryanair would examine ways to reduce the tax bill for members of the ESOT, if it decides to sell its shares.
Ryanair has yet to publish its offer document, which will add detail to its takeover bid.
Mr Cawley was speaking as Ryanair announced two new routes from Dublin to Warsaw and Stockholm.
Workers protesting outside Dáil
Around 50 Aer Lingus protested outside the Dáil this morning against the potential Ryanair takeover of the airline.
The demonstration followed a picket earlier this week of the Taoiseach's constituency office in Drumcondra.
SIPTU says workers are hoping to speak to TDs about their concerns, particularly Fianna Fáil deputies from north Dublin.
Speaking on RTÉ Radio's Morning Ireland, SIPTU's National Industrial Secretary Michael Halpenny said the Government had been warned about the dangers of a predatory takeover and about a Ryanair takeover but chose to ignore it.
He said what was required now was not just a regulatory appeal to Brussels, but for the Government to maximise its stake in Aer Lingus. He said this would safeguard national interests.
Mr Halpenny said the electorate would not forget what he called an unmitigated disaster by the Government whose job it was now to sort out the mess.
Mr Halpenny said privatisation was put forward as an aid to competition, so that it would promote the growth of the airline and would underpin employment. The nature of the Ryanair bid, he claimed, was counter to all these objectives.
Pilots increase stake
Meanwhile, Aer Lingus pilots have again slightly increased their stake in the airline.
They bought another 200,000 Aer Lingus shares yesterday, at a price of €2.87 each, according to a statement issued to the Dublin Stock Exchange this morning.
This brings their stake from 2.24% to 2.27% and they now hold over 12 million shares.
It was also announced yesterday that businessman Denis O'Brien has bought a 2.1% stake in the airline for €32 million.
In a statement to the Dublin Stock Exchange today, he confirmed that he bought over nine million shares, or 1.72%, at a price of €2.95 each. This brings his total shareholding to 11.1 million shares.
Mr O'Brien had already had a very small stake in the airline. He said he has agreed to support the pilots, the staff, and the management of the company.
He said he had purchased the shares because he believed in competition, and because he believed in Aer Lingus as a company with a strong reputation.
Mr O'Brien's intervention is being seen as a significant obstacle to the Ryanair takeover bid.
