Irish government receives report on Aer Lingus stake sale
The steering group advising the Irish government on International Consolidated Airlines Group's takeover of Aer Lingus has submitted its report, the Irish Examiner reported. A Department of Transport spokesperson confirmed the report had been received, although the sale of the government’s 25% Aer Lingus stake was not scheduled to be discussed at a weekly meeting of the Irish cabinet tomorrow, 26 May, the representative said. The report noted that issues could in principle still be added to the meeting’s agenda.
The Sunday Business Post had reported that following the meeting the government would reveal it is supporting the stake sale, the item stated.
The advisory group’s report may help persuade Aer Lingus unions and sceptical members of parliament to back the deal, the report said.
The board of Aer Lingus recommended IAG’s EUR 1.36bn offer at the beginning of the year but the deal is dependent on securing the support of the Irish government and Ryanair, the rival Irish airline which owns a stake of almost 30% in Aer Lingus, the report said. It added that Ryanair, which will publish its annual financials tomorrow, has said it will not consider any sale until IAG has tabled a formal bid.
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Source Irish Examiner