Ryanair agrees to let go of stake in Aer Lingus

Ryanair and Aer Lingus aircraft are parked on the tarmac after they were grounded by the Irish Aviation Authority under advice from the Volcanic Ash Advice Center in London, at Dublin Airport on May 4, 2010. Europe's budget carrier Ryanair has agreed
Ryanair and Aer Lingus aircraft are parked on the tarmac after they were grounded by the Irish Aviation Authority under advice from the Volcanic Ash Advice Center in London, at Dublin Airport on May 4, 2010. Europe's budget carrier Ryanair has agreed to sell its minority stake in Aer Lingus, ending a six-year corporate battle with its smaller Irish rival that included three takeover attempts. -- FILE PHOTO: AP

DUBLIN (REUTERS) - Ryanair has agreed to sell its minority stake in Aer Lingus, ending a six-year corporate battle with its smaller Irish rival that included three takeover attempts.

The move by Europe's largest budget carrier comes ahead of a ruling by Britain's Competition Commission that could have forced a sale. Ryanair said in a statement it would sell its 29 per cent stake to any European Union airline that makes an offer.