Aer Lingus chief executive Dermot Mannion has said he is confident the airline will maintain enough support from shareholders to fend off Ryanair's bid for the airline.
Speaking on RTE radio's Drivetime, he said he could not see any circumstances where the management team of Aer Lingus could work with that of Ryanair, and it was 'inconceivable' that the management teams could be integrated.
Mr Mannion rejected suggestions that the flotation price was too low, saying €2.20 was a fair price in the market at that time. Mr Mannion said he did not expect the Government to buy back shares in Aer Lingus.
He said he believed the competition hurdles surrounding a proposed takeover were too high for Ryanair to surpass. Mr Mannion also He rejected claims that the flotation was a 'cock-up', saying the process was 'entirely satisfactory' from Aer Lingus's point of view.
EArlier, unions at Aer Lingus dismissed reports that they proposed to use the pension fund to buy more shares in the airline.
Sources say newpaper reports on Friday morning that union leaders made the proposal are inaccurate. It is understood the matter was raised briefly at a meeting in the airport on Thursday night but was not supported.
The Employee Share Option Trust at Aer Lingus is believed to be examining possible options for buying more shares.
However, the trustees of the pension scheme - who are independent operators - cannot be instructed to do the same, according to union sources.
Meanwhile, Aer Lingus pilots have further increased their stake in the airline.
In a statement to the Dublin stock exchange, the Irish Airline Pilots Pensions Limited said they bought 300,000 shares at a price of €2.92. This brings their shareholding in Aer Lingus from 2.12% to 2.18%.
This stake, combined with the Government's 28% and 12% owned by the ESOT, means Government and staff own over 42% of Aer Lingus. Ryanair currently holds 19.2% but can not buy any more shares without raising its €2.80 per share offer.
Aer Lingus shares were unchanged in Dublin on Friday evening.
