Rumours in the Irish Times that EI management would prefer trade sale of government shareholding to JetBlue, their current ticketing partner in the US. It also mentions possible agreements with Etihad on ticketing.
Aer Lingus wants US partner to buy State holding - The Irish Times - Mon, Mar 12, 2012
Speculation from this on Morning Ireland on RTE Radio 1 this morning suggested that until FR agree to sell, the possibility of a trade sale is limited, but that MO'L had rolled back from that position. However, the government would then be in a bind, as over 50% of the shares would be for sale, which would badly depress the share price. A bit of a catch 22 - and of course it would potentially open the company up to an effective takeover by a third party.
My own view is that the government should not have held on to the shares at all - but many EI workers of course live in then Taoiseach Bertie Ahern's constiuency, and he hated being the bad guy. Now, the Troika-induced announcement of an effectively enforced sale at some point means the shares will never realise a decent return. Ironic as in the scheme of things the amounts involved are insignificant.
MD