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18/10/2011
Etihad To Buy Govt Aer Lingus Stake?
Talks are reportedly underway between the Irish Government and a Middle Eastern airline, which have expressed interest in the Governments 25% stake in Aer Lingus.
According to the Financial Times, a meeting between James Hogan,the Chief Executive of Etihad and Taoiseach Enda Kenny,at an investment conference in Dublin, sparked interest.
This comes after the Government said in September it would sell its stake in the airline. Transport Minister Leo Varadkar said that he would not sell it for less than €1m per share, which would value the stake at €132.4m and Aer Lingus at €529.6m, the newspaper said.
The Financial Times cited people with knowledge of the move as saying it is unclear how far talks have progressed and that they might not result in any deal.
Aer Lingus and Etihad have not commented.
Meanwhile analysts believe that the most likely buyer of the airline is International Airlines Group, the parent company of British Airways. Its chief executive Willie Walsh was a former boss of Aer Lingus.
(LB/CD)
According to the Financial Times, a meeting between James Hogan,the Chief Executive of Etihad and Taoiseach Enda Kenny,at an investment conference in Dublin, sparked interest.
This comes after the Government said in September it would sell its stake in the airline. Transport Minister Leo Varadkar said that he would not sell it for less than €1m per share, which would value the stake at €132.4m and Aer Lingus at €529.6m, the newspaper said.
The Financial Times cited people with knowledge of the move as saying it is unclear how far talks have progressed and that they might not result in any deal.
Aer Lingus and Etihad have not commented.
Meanwhile analysts believe that the most likely buyer of the airline is International Airlines Group, the parent company of British Airways. Its chief executive Willie Walsh was a former boss of Aer Lingus.
(LB/CD)
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Ryanair Flies Low
The budget airline Ryanair - which flies from two bases in Northern Ireland - has revealed financial returns showing a major nosedive in operating profits. Ryanair plunged into the red by €169.2 million (£145.9m) in the year to March after being hit with a 59% hike in its fuel bill.
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Examiner Appointed To Aer Arann
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Examiner Appointed To Aer Arann
The High Court has appointed an Examiner for troubled airline, Aer Arann. Aer Arann said it intends to operate normally during the period of examinership and intends to fly all Aer Arann services and all Aer Lingus Regional services operated under the airline’s franchise agreement with Aer Lingus.
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Northern Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
