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IAG says will not increase Aer Lingus share price offer

Reuters - UK Focus

DUBLIN, May 27 (Reuters) - The chief executive of British Airways owner IAG on Wednesday ruled out any increase in the price offered for Aer Lingus (Other OTC: AELGF - news) shares to convince 30-percent shareholder Ryanair to back the deal.

"The offer we have made is the limit which we are prepared to offer," International Airlines Group CEO Willie Walsh told a news conference when asked if Ryanair might demand that IAG increase its bid of 2.55 euros per share.

He added that no bilateral talks with Ryanair are expected and that discussion of route planning between IAG and Ryanair would not be allowed under competition rules.

"We will issue a formal issue offer document within 28 days. We are not anticipating any bilateral discussions" with Ryanair, Walsh said.

(Reporting by Conor Humphries; editing by Jason Neely)