26 JANUARY 2015
BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.
The Business Travel News
PO Box 758
Edgware HA8 4QF
+44 (0)20 8952 8383
© 2021 Business Travel News Ltd.
Reports over the weekend indicate that the Irish government is prepared to accept a fresh bid by IAG for the airline at €2.50 a share for its 25.1% holding against the original €2.30, valuing it at €1.34bn.
The deal is far from done.
The largest shareholder is Ryanair at 29.9%, with Etihad at 4.9% and investment company Crystal Amber 2.8%. It is suggested that Willie Walsh, Chief Executive of IAG, is working in concert with Ryanair boss Michal O’Leary but the situation is not clear with the budget airline still awaiting a decision on its shareholding from the UK Court of Appeal.
Aer Lingus holds 23 slot pairs at Heathrow worth between US$10m and US$30m each, depending on the time of day. The airline's London services are clearly an important part of its profitability and a future holding for IAG/BA which would probably not be the subject of interest by the Competition Commission, the access still less than continental airlines at their main hub airports.
A senior industry figure said the move seemed to make sense “unlike the Iberia investment which after nearly five years is still a serious problem and a mistake.”
Christoph Mueller stands down as Chief Executive of Aer Lingus on 28 February. His replacement is likely to be an IAG selection. www.aerlingus.com www.iairgroup.com
All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum
No one has commented yet, why don't you start the ball rolling?