I don't really think that's a runner; it would be an admission of defeat, but more to the point, not good for Aer Lingus at all.
There is another reason for thinking it's not a good thing. Here's a statement made by the minister for transport this evening. Now, I really don't like to criticise people, but, well, just have a read through the link and see what you think. I've picked out a few salient points to focus on ...
http://www.breakingnews.ie/2006/10/06/story279934.html
1. Government's and Ireland's strategic objectives not well served.
(What strategic objectives? Are these strategic objectives served by letting the DAA have a free hand at Dublin Airport, by having no investment in cargo handling, by turning their face against competition at the airport, by maintaining an outdated and counter-productive bilateral with Canada, by not having any meaningful co-ordination between govt departments - where do I stop ....)
2. Government kept 28% precisely to block such a hostile takeover bid and the delisting of EI from the S.E.
(Er ... how exactly does 28% shareholding, without a golden share, actually achieve this?)
3. It's a defensive move by Ryanair to protect itself from a stronger, well resourced Aer Lingus.
(Yeah right, because tiny, delicate Ryanair with the lowest costs in the industry and a whacking great fleet of 737s is really going to need protection from EI.)
Did you ever read such BS in all your life? To whom is this drivel intended. Would it have crossed his mind that when investors and analysts read something like this, their most immediate thought may be "if anyone needs protection, it's Aer Lingus, from this guy. What planet is he on?".
Sometimes you're not sure whether to laugh or cry.