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EU Commission approves IAG takeover of Aer Lingus

Reuters - UK Focus

DUBLIN, July 14 (Reuters) - IAG has gained European Union antitrust approval for its 1.3-billion-euro ($1.4 billion) bid for Irish carrier Aer Lingus (LSE: AERL.L - news) after agreeing to make concessions to ease competition worries, the EU Commission said on Tuesday.

Reuters reported on Friday that IAG was set to win approval after improving its concessions, including giving up some airport slots in London and agreeing to special agreements with rivals, clearing the last hurdle for the takeover.

The Commission confirmed that IAG had submitted commitments to release five daily slot pairs at London's Gatwick airport to facilitate the entry of competing airlines on routes from London to both Dublin and Belfast, while also entering into agreements with rival carriers.

($1 = 0.9083 euros) (Reporting by Padraic Halpin; Editing by Pravin Char)