Ryanair Offers Flybe Cash for Aer Lingus Short-Haul Services

Ryanair Holdings Plc plans to pay Flybe Group Plc 100 million euros ($136 million) to take over some of Aer Lingus Group’s short-haul business as the low-fare carrier seeks regulatory approval to buy its Irish rival.

Flybe “has reached an agreement in principle with Ryanair about the possible transfer of a number of aircraft and operating routes as part of a package of concessions Ryanair has submitted to the European Commission,” the Devon, England-based airline said today in a statement. The accord still requires board and shareholder approval, Flybe said.