Aer Lingus is to become part of International Consolidated Airlines Group (IAG) after securing acceptance for its €1.4 billion takeover offer from more than 95% of Aer Lingus shareholders.

IAG confirmed in a statement to the stock exchange that Ryanair had accepted its offer meaning all the conditions of its bid for Aer Lingus have now been met.

With acceptances from investors representing over 90% of Aer Lingus' shares IAG can now, under Irish takeover rules, compulsorily acquire any remaining shares in the company regardless of whether their owners accept its offer.

IAG said it will apply to have Aer Lingus shares delisted from the Irish Stock Exchange next month.

IAG, which owns both British Airways and Iberia, had extended the original deadline for accepting the offer from last month to wait for a decision from Ryanair, the largest single shareholder in Aer Lingus with a 29.8% stake.

Without Ryanair's approval the takeover could not have gone through.