Seems to be a bit of smoke and mirrors regarding the drop in price of the FR Aer Lingus shares.
I think traffic is still up and the fuel hedge this time is good looking forward.
Not sure if the whole Aer Lingus thing is Irish internal politics or part of a long term strategy (I think the former). If FR don't get them next time, Aer Lingus are surely sunk, forcing FR to write of the remaining value of the AL shares in 2010,11 and maybe 12 if the stagger on that long?