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25/02/2015
IAG Offer 'Bargain Basement Price' - Labour
Labour has criticised the IAG takeover bid for Aer Lingus as a "bargain basement price".
The party's Joe Costello said that the annual returns for the airline are "most impressive" and in a difficult economic climate, has "sprinted ahead of its competitors".
"With record passenger numbers in excess of 11 million passengers and a strong profit increase of 18% it is in a robust economic position," Mr Costello said.
"It is fast establishing itself as the transatlantic hub for Europe, having negotiated the crucial pre-clearance status for Dublin and Shannon. It has done all this as a standalone airline.
"Clearly the IAG bid for Aer Lingus is a bargain basement one in light of these returns. The twenty three Heathrow slots alone are worth the €1.3 billion being proposed for the entire airline.
"The five year guarantee is wholly inadequate. Aer Lingus is a very valuable airline and the reasons for the Irish people holding the 25% share remain valid today."
(MH/CD)
The party's Joe Costello said that the annual returns for the airline are "most impressive" and in a difficult economic climate, has "sprinted ahead of its competitors".
"With record passenger numbers in excess of 11 million passengers and a strong profit increase of 18% it is in a robust economic position," Mr Costello said.
"It is fast establishing itself as the transatlantic hub for Europe, having negotiated the crucial pre-clearance status for Dublin and Shannon. It has done all this as a standalone airline.
"Clearly the IAG bid for Aer Lingus is a bargain basement one in light of these returns. The twenty three Heathrow slots alone are worth the €1.3 billion being proposed for the entire airline.
"The five year guarantee is wholly inadequate. Aer Lingus is a very valuable airline and the reasons for the Irish people holding the 25% share remain valid today."
(MH/CD)
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Aer Lingus Reports Fall In Flyer Numbers
Aer Lingus has reported its passenger numbers were down 8.4% last month compared to February of last year. The company says it carried 688,000 passengers during the month with passenger numbers on short-haul routes down 8% to 620,0000. Meanwhile the figure for long-haul services was down 11.7% to 68,000.
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Ryanair's Aer Lingus Stake 'Takes Off'
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Ryanair To Sell Aer Lingus Stake To IAG
Ryanair has confirmed its board has voted "unanimously" to accept the IAG offer for its 29.8% shareholding in Aer Lingus Group. The airlines stake has been available for sale since May 2012. The board has said it believes the current IAG offer "maximises Ryanair shareholder value.
Ryanair To Sell Aer Lingus Stake To IAG
Ryanair has confirmed its board has voted "unanimously" to accept the IAG offer for its 29.8% shareholding in Aer Lingus Group. The airlines stake has been available for sale since May 2012. The board has said it believes the current IAG offer "maximises Ryanair shareholder value.
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