The opposition is calling on Transport Minister Paschal Donohoe to intervene in any sale of Aer Lingus.

The airline are reportedly set to accept the latest offer from the parent company of British Airways.

Fianna Fáil's transport spokesperson Timmy Dooley says the minister should rule out any sale of the government stake in the airline to protect Irish strategic interests.

British Airways owner International Airlines Group (IAG) has come forward with a third offer for the carrier, believed to be worth €2.50 a share. This would value the airline at more than €1.3bn.

Directors of Aer Lingus discussed the proposal on Friday with their investment banking advisers from Goldman Sachs, according to insiders.

The Financial Times has reported Aer Lingus is expected to recommend the bid to its board.

"People familiar with the matter said that the two sides could announce the start of formal talks to finalise a deal in the next few days, but warned that the situation remained fluid," the paper said.

But Mr Dooley says any such sale could see Aer Lingus' Heathrow slots siphoned off, risking future connectivity and jobs at Dublin, Cork and Shannon airports.

And he believes jobs will be at risk if the sale goes ahead.

The Irish government holds a 25.1% stake in the airline, and reports have suggested that it could insist that IAG retains Aer Lingus's Heathrow slots solely for flights to and from Ireland as a condition for approving a deal.

Any deal would also need the approval of Ryanair, who owns a 29.8% stake. Ryanair has indicated that it would be prepared to consider an offer of between €2.50 and €2.70 a share.

Originally published at 10.00am