Ryanair has confirmed that it will sell its stake in Aer Lingus. The airline say the move to sell the 29% share is part of ongoing remedy discussions with the UK Competition Commission (CC).

Ryanair have refuted the concerns by the British body that because of their shares they have influence over the commercial strategy of the Irish national carrier and therefore lessening competition.

The low-cost carrier maintains during the 6 and half years of owning nearly a third of Aer Lingus competition has intensified between both airlines.

The airline said the move was made "in order to dispel the CC’s unfounded and invented 'concern' that Ryanair’s shareholding may prevent Aer Lingus from being acquired by another EU airline".

It says it will unconditionally sell its 29% shareholding to any other EU airline that makes an offer for Aer Lingus and gets acceptance from 50.1% of Aer Lingus shareholders.

Robin Kiely from Ryanair said "It is clear from the CC’s own Provisional Findings report that it has found no evidence of any lessening of competition between Ryanair and Aer Lingus. In fact, Ryanair’s recent (3rd) offer for Aer Lingus was prohibited by the EU precisely because of the evidence, submitted by both Aer Lingus and the Irish Government, that competition between Ryanair and Aer Lingus has 'intensified' during the past 6½ years".

"Ryanair has now agreed that it will unconditionally sell its 6½ year old minority stake to any other EU airline which makes an offer for, and acquires more than 50.1% of, Aer Lingus shares, at the same price and terms which are accepted by these other 50.1% of Aer Lingus shareholders".

"This remedy unconditionally removes any ability by Ryanair to block any future takeover of Aer Lingus by another EU airline" he added.

Newstalk's Business Editor Ian Guider says this could be a clever ploy by the low-cost carrier.