Ryanair denied a report Monday which quoted CEO Michael O'Leary saying he would use a future rights issue by Aer Lingus to gain majority control over the rival Irish airline.
A report by dealReporter, also posted on the Financial Times website, quoted O'Leary as saying Ryanair would be happy to invest in Aer Lingus beyond its current 29 percent stake and the most likely way to do so would be through an Aer Lingus rights issue.
A spokesman for Ryanair said the dealReporter report was based on a misunderstanding.
"There was 'no substance' to reports which appeared on FT.com claiming Ryanair could take control... (of) Aer Lingus through a rights issue," Ryanair said in a statement.
"Our position on Aer Lingus was recently confirmed at the Ryanair AGM, which is that we are 'highly unlikely' to make a third offer," it said.
Aer Lingus has said it was looking for ways to reorganize its business to reverse mounting losses. A spokeswoman for the former state airline, which has fended off two bids by Ryanair, said it was not considering a rights issue.
