Report values Aer Lingus at €1 billion

[redout]

Taken from RTE

Report values Aer Lingus at €1 billion

January 06, 2006 14:04
An expert report has advised the Government to sell a majority stake in Aer Lingus for a possible €750m.

The report, which is being considered by the Ministers for Transport and Finance, values the company at around €1 billion, significantly higher than previous estimates.

It recommends that the Government retains at least 25% of the airline to protect certain interests such as its landing slots at London Heathrow Airport.

[akerosid]

It should certainly happen this year, but I really doubt it will. The unions are going to kick up a fuss and make as much trouble as possible and Comrade Taoiseach isn't going to need much pushing to call a halt to it. His attention will be focused on an election next year.

With FR growing strongly at DUB - and no doubt more to come - and EU airlines being able to set up t/a flights from DUB from next year, a long delay may make it too late for EI. The sad irony is that the biggest beneficiary of the Taoiseach's politicking and readiness to acquiesce to the unions wishes is going to be his - and the unions' - biggest critic: FR.

It often amazes me that after spending so much and putting so much effort into getting election, the Taoiseach is too paralysed by the fear of losing power to use it responsibly. I guess it's too much to hope that his over-arching responsibility towards the best interests of the country will be allowed to take precedence over FF's electoral needs. :mad: