Interesting development here - MO'L says that even if FR doesn't succeed in getting a majority shareholding, it will still remain a long term shareholder in Aer Lingus.
http://today.reuters.co.uk/news/arti...CEO-URGENT.XML
That may be a more comfortable position, for a few reasons:
- He won't be in charge,
- It would act as an insurance policy against FR being dumping capacity in DUB, to bury EI (which would be a possibility),
- EI could still benefit from FR's purchasing power, particularly on the long haul (and indeed, it might dissuade FR/MO'L from going down that road?). As things stand, Airbus is wobbling badly and rumours are that the A350 may not even go ahead, so it's probably a fair bet that EI will choose the 787.
Would people be comfortable having FR as a minority shareholder (although FR would still be seeking to increase its shareholding)?
Although the govt said today that it was considering legal action to stop FR, I would see that as posturing, since it appeared as recently as this morning that the govt could fall and this would be a particularly inconvenient issue to come up during an election, so they had to be seen to do something?
Finally, what became of the rumour that "a certain M/E airline" was buying up shares; there's a distinct absence of an Omar Sharif-like figure riding approaching through the desert in the distance ...