Aer Lingus for sale
09.09.11
Aer Lingus is reportedly for sale, after the Irish Government and Ryanair indicated they are both willing to sell their stakes in the Irish flag carrier. The Irish government is expected to announce shortly that it will dispose of its 25% stake in Aer Lingus and, according to the Times newspaper, Ryanair has said that it would not bit for the government's stake and has confirmed that it is willing to sell its 29.8% shareholding.
Ryanair has attempted to buy Aer Lingus twice in the last five years, but was blocked by European competition commissioners. The value of its stake has also fallen by more than €300m to about €100m at current values, although a takeover might increase this value.
BA's parent, IAG has been suggested as a possible buyer. Its chief executive, Willie Walsh, was previously head of Aer Lingus, which is the fourth largest airline at Heathrow where it holds 3% of all take-off and landing slots. The airlines have a number of codesharing deals.
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