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Green light today for Aer Lingus sale to IAG

May 27, 2015 Aviation, Headline News No Comments Email Email

egtmedia59Ireland’s governing coalition government was tipped yesterday to be on the brink of approving the sale of the state’s 25% stake in Aer Lingus to British Airways owners, IAG.

The Irish Independent reported that the country’s Transport Minister, Paschal Donohoe, was set to address Cabinet.

The decision followed assurances provided by IAG guaranteeing to maintain routes between Ireland and London for seven years as a condition of sale, the reported. The bid itself is valued at EUR 1.4 billion (AUD 1.96 billion).

The paper reported that any agreement would be conditional on a veto over any sale of the Aer Lingus slots at Heathrow.

IAG boss Willie Walsh has pledged to offer legally-binding agreements to Ireland’s government, the paper reported.

Walsh said IAG felt its proposal “would secure and strengthen Aer Lingus’s long-term future and brand as a member of a successful and profitable European airline group, offering significant benefits to both Aer Lingus and its customers”.

Written by Peter Needham

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