Irish government to sell Aer Lingus stake

Irish government to sell Aer Lingus stake

The Irish government is to sell its 25-per cent stake in flag carrier Aer Lingus to British Airways owner International Airlines Group, the transport minister has said.

“Following detailed consideration of … all of the issues surrounding a potential disposal of the state’s shareholding in Aer Lingus, the government has decided that it will support IAG’s proposal,” minister Paschal Donohoe said in a statement on Tuesday.

The sale has been a hot topic for Dublin, with severe opposition within the junior government coalition party, Labour, and from unions who warned about future implications for jobs and connectivity.

To quell opposition, IAG made commitments on the future of the airline, promising to maintain the brand and a head office based in Dublin and ensure the airline’s lucrative landing slots at London’s Heathrow airport would not be sold.

The deal offers Aer Lingus shareholders 2.55 euros a share ($A3.54), valuing the airline at 1.36 billion euros.

IAG will now have to issue a formal offer while the matter is expected to be discussed in parliament, possibly as soon as Wednesday, with a vote necessary before Dublin can complete the sale.

IAG will also require the support of Irish airline Ryanair, which is the largest shareholder, with a 29.8 per cent holding.

Latest News

  • Events

More than 65 luxury agents gather in Sydney for Best of the Best dinner

The biggest names in luxury travel came together last night to celebrate the industry’s top agents. In its 12th year, Best of the Best is an event series that brings together the Best of the Best in hotels, cruise, and travel advisor partners. The evening saw 65 luxury travel agents attend a private dinner at the ACE Hotel in Sydney with partners Anthony Knox & Associates, […]

  • Events

Vivid entice globally-renowned chefs for Vivid Food 2024

From near and far, some of the hottest names in the culinary world will appear at Vivid Sydney this year as part of Vivid Food, embracing the festival’s 2024 theme, ‘humanity’, and highlighting food as a fundamental part of the human experience, connecting us all through the universal language of cuisine. This year’s roster of […]

  • Aviation

Air New Zealand returns to Hobart and Seoul

Air New Zealand will resume flying to Hobart, it revealed today in its summer schedule update. It also announced it will be returning to Korean capital Seoul. Both the Auckland to Hobart and Auckland to Seoul routes will be seasonal services, with Air New Zealand operating three direct flights a week to each destination over the summer […]

  • Destinations

European Waterways targets multi-generational families with ‘Floating Villa’ deal

In today’s fast-paced world, finding quality time for multi-generational bonding can be a challenge. European Waterways’ hotel barge cruises offer families the opportunity to enjoy the ultimate luxury vacation with a private charter experience. They say  “it’s like having your own private ‘floating villa’ in a different village every day, made extra special by a […]

  • Cruise

Luxury Escapes launches ‘sail away’ sale

Luxury Escapes has announced its biggest cruise event of the year.  The limited-time Sail Away Sale gives cruisers the chance to experience luxury at a cheaper price point. The selection of handpicked offers include exclusive add-ons such as generous onboard credit, bonus value, pre & post-cruise stays, and more.  Destinations including Europe, Asia, Australia, and […]

  • Aviation

Rex-owned National Jet Express (NJE) adds weekly charter between Brisbane and Orange

National Jet Express (NJE), a Rex Group member, today announced the commencement of weekly charter services between Brisbane and Orange in NSW for mining and civil contractor These services represent NJE’s eighth destination on the East Coast since commencing services from Brisbane in July 2023, and its first port in NSW. “We are delighted to […]

  • Aviation

Bonza hires restructuring advisory amid turbulence at Miami-based owner 777 Partners

The financiers of low-cost regional airline Bonza have hired restructuring advisory KordaMentha to give them advice on the operations of the airline. Bonza, which launched in January last year, is a budget airline based on the Gold Coast. They fly to regional areas such as Cairns but do not fly to Sydney or Brisbane (they […]

  • Events
  • Tour Operators

Best friends or frenemies? What is the REAL relationship between sales and marketing?

It’s the age-old business conundrum and a conundrum that becomes all the more important when budgets are squeezed.  Which is more important, sales or marketing? The answer depends on who you ask, Journey Beyond’s Justine Lally and Alicia Triggs say. (Lead Image: Justine Lally  and Alicia Triggs ) Journey Beyond is an experiential tourism group […]