Over the last couple of years we have followed the fortunes of Aer Lingus. It is an interesting story as a former state company,that was privitised,is partially owned by the workers (14%) (E.S.O.T),the state (30%) and Ryanair(25%). Indeed Ryanair has made three unsuccessful attempts to take it over.
Recently International Consolidated Airlines Group (IAG) has made two attempts at purchasing Air Lingus. Last Friday it offered €2.40 a share,€1.28 bn in total but it was rejected by Air Lingus’ board of directors. It previously offered €2.30 in mid December. Air Lingus is seen as a well run company with reserves in the bank, passenger numbers up and is the holder of prized slots into Heathrow. Hopefully if the state sells its 25.1% stake it ensures that those slots remain between Dublin,Shannon and Cork into Heathrow.
IAG owns British Airways and Iberia Airlines.