Ryanair has confirmed to the stock exchange that it has increased its stake in Aer Lingus from 19% to just over 25%.
Ryanair said it had bought just under 32 million shares yesterday, most of them at a price of €2.75. It spent more than €87m acquiring the shares.
Despite the development, shareholders opposed to the Michael O'Leary-led bid still own over 46% of Aer Lingus.
Ryanair has set a deadline of 4 December for shareholders to accept its offer.
'It confirms my own view they are not going anywhere anytime soon,' Aer Lingus Chief Executive Dermot Mannion told The Future of Air Transport conference in London this morning.
Mr Mannion also said Aer Lingus would present details of its cost-cutting programme to unions by the end of this week.
The Irish Takeover Panel said last week Aer Lingus must publish the details of a cost-cutting programme planned for next year by 1 December.
