Irish budget carrier Ryanair appears to be abandoning its aim to acquire flag-carrier Aer Lingus, following a second abortive takeover attempt.
The Irish Government last month turned down Ryanair's offer to acquire its share of Aer Lingus, prompting the budget carrier to withdraw its proposal.
In its third-quarter results statement today, Ryanair says: "It is doubtful that Ryanair will waste any further management time or resources making another offer for Aer Lingus, as its scale and losses will continue to render it increasingly irrelevant in Europe's airline landscape."
Ryanair holds nearly 30% of Aer Lingus and had been chasing the Government's stake of around 25%. It says the rejection of its offer "sadly condemns Aer Lingus to a bleak future".