MO'L has already been rejected in efforts to merge Aer Lingus (see takeover) with Ryan. Can't see him sitting quielty on a board with say Wee Willy, or any other potential buyer, having been turned down himself. That fact together with any current problems in Aer Lingus doesn't make it a very attractive "merger" prospect I wouldn't think.
I would hate to see the demise of the flying shamrock though so hopefully something can happen.