Budget airline Ryanair has made a third tilt for Irish carrier Aer Lingus, renewing old rivalries for a group of four bankers who advised on the previous bids in 2006 and 2008.

Ryanair late yesterday announced it had bid €1.30 per share for Aer Lingus, a 38.3% premium to the closing share price on June 19, in a deal valuing the Irish airline at €694m.