Ryanair today published its offer document relating to its €1.4 billion takeover bid for Aer Lingus.
The airline said its offer document - relating to Ryanair's all cash offer of €2.80 per share in Aer Lingus - was being posted to all Aer Lingus shareholders today.
The document is understood to highlight the fact that EU Commissioner for Competition Neelie Kroes has spoken in favour of airline consolidation once it does not drive up fares.
It also says Ryanair envisages major job cuts in its initial period of ownership of Aer Lingus on the grounds that the former semi-state airline carried eight million passengers last year with more than 3,400 staff, a much higher passenger/staff ratio than Ryanair.
The Aer Lingus Employee Share Ownership Trust (Esot), which holds shares in the airline on behalf of staff, said it had asked its advisers to review the offer document.
It said it will be making no further comment on the offer document until after it has had time to consider the views of its advisers.