 It was further noted, "The board has reviewed the proposal and believes that it fundamentally undervalues Aer Lingus and its attractive prospects.Accordingly, the proposal was rejected..."

On 9 January 2015, Aer Lingus rejected a second-bid from IAG, proposing a €2.40 per-share takeover.On 24 January 2015, IAG launched a third bid for Aer Lingus, proposing a €2.55 per-share takeover offer, totalling close to €1.4bn.