Merrion Capital, a subsidiary of Landsbanki Islands, confirms today that it has completed the purchase of Oppenheim Investment Managers (OIM), following regulatory approval.

It is intended to change the name of the company to Merrion Investment Managers, subject to the approval of the Financial Regulator and the Companies Registration Office.

Aer Lingus this morning released traffic statistics for the month of August, with overall load factor -1.2ppts yoy at 80.5% (short haul +0.1ppt at 83.0%, long haul -2.8ppts at 77.5%). Overall capacity growth, measured in ASKs, was +10.3% yoy, with short haul +15.4% and long haul +4.5%. Passenger numbers were up 8.8% yoy to 1,012,000, with short haul +10.6% and long haul -2.3%.

These traffic stats are broadly in line with our expectations for the second half of the year, with short haul load factor expected to be flat to marginally down yoy and long haul expected to be down c.2 ppts yoy.

We have a Buy recommendation on Aer Lingus.