Ryanair makes cash bid for Aer Lingus

Budget airline Ryanair said it planned to make a 694 million euro ($880 million) bid for Aer Lingus in a fresh attempt to gain control of its Irish rival.

Ryanair already owns a 29.8 percent stake in Aer Lingus, which it attempted to take over in 2006, a move that was slapped down by the European Commission.