Aer Lingus pilots have dug deeper into their pension fund to increase their shareholding in the company to 2.18 per cent.
A statement to the Irish Stock Exchange (ISE) this morning, revealed the pilots bought 300,000 shares at a price of €2.92.
It brings the combined holding between the Government and staff to 42 per cent, as the two parties attempt to fend off a takeover bid from Ryanair.
Ryanair holds a 19.2 per cent stake in the company.
The development will increase Government confidence that the hostile bid from Ryanair will be blocked.
Earlier this week, the pilots agreed to buy 9.5 million shares at a cost of €30 million.
Efforts are also under way by unions to use the Irish Airlines (General Employees) Superannuation Scheme as a way to purchase several million shares.
This is likely to be problematic, however, because it is a multi-employer scheme that covers airline staff, staff from the Dublin Airport Authority, and SR Technics, the aircraft maintenance firm.
Minister for Transport Martin Cullen yesterday expressed confidence that Ryanair's bid will not be successful.
The Minister also defended his handling of the Aer Lingus flotation saying: "There is a lot of hot air and political commentary but . . . I am absolutely confident in the decision taken by me on behalf of the Government."