Irish airline Aer Lingus has rejected a 1.48bn euro (£1bn) takeover offer from budget rival Ryanair. A combined Ryanair/Aer Lingus group would have a 78% share of the London-Dublin route, raising concerns over competition issues. Ryanair chief Michael O’Leary said the move was a “unique opportunity” to form a “strong Irish airline”, carrying more than 50 million passengers each year. If the bid was successful, he said the plan was to continue to operate the two airlines separately and compete on the 17 routes which both use.