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07/09/2011
Govt To Sell Stake In Are Lingus?
The Irish Government is considering putting its 25% stake in the national airline, Aer Lingus, on the market.
In a statement the Transport Minister Leo Varadkar has said that he no longer considers the airline asset as strategic.
However the Minister said: "No formal decision has been made yet."
"What I can say is that that stake in the past was held for strategic reasons and having studied the matter over the summer I don't think that really stands any more."
A government-sponsored report published in April this year recommended that the state sell its 25% stake in the airline as soon as is opportune.
It also named the Dublin Airport Authoritiy (DAA) and the Irish Aviation Authority as possible privatisation targets.
However rival airline Ryanair have hinted interest in purchasing the State's share.
Ryanair spokesman Stephen McNamara said: "We previously said that the Government would eventually sell Aer Lingus. Obviously we would be open to talking to them if they were to sell."
Although the airline said it was happy to confirm that it would not bid for the holding if the government felt that such a move would be unwelcome
Ryanair already owns 29.4% of the Aer Lingus company – just shy of the level which prompts an automatic takeover bid under company law. The budget carrier has already had two audacious bids rejected.
Ryanair acquired a partial stake in Aer Lingus after its privatisation in 2006, then notified the European Commission that it was seeking a takeover.
One major concern over a takeover was that the Aer Lingus brand could lose its valuable landing slots in London's Heathrow Airport and the State would miss a key tourism and business link to the British capital.
The Minister explained: "We have a 25% stake. You actually need 30% to block any changes on slots."
This was on foot of the European Court of Justice ruling that Ryanair's earlier bid for Aer Lingus should be blocked.
The court ruled at the time that Ryanair could keep its 29.9% stake but refused to allow Ryanair's hostile bid saying it would create a monopoly for flights from Dublin airport.
Ryanair Chief Executive Michael O'Leary said the ruling would not prevent the low-cost carrier from making a future offer for Aer Lingus.
(LB/BMcC)
In a statement the Transport Minister Leo Varadkar has said that he no longer considers the airline asset as strategic.
However the Minister said: "No formal decision has been made yet."
"What I can say is that that stake in the past was held for strategic reasons and having studied the matter over the summer I don't think that really stands any more."
A government-sponsored report published in April this year recommended that the state sell its 25% stake in the airline as soon as is opportune.
It also named the Dublin Airport Authoritiy (DAA) and the Irish Aviation Authority as possible privatisation targets.
However rival airline Ryanair have hinted interest in purchasing the State's share.
Ryanair spokesman Stephen McNamara said: "We previously said that the Government would eventually sell Aer Lingus. Obviously we would be open to talking to them if they were to sell."
Although the airline said it was happy to confirm that it would not bid for the holding if the government felt that such a move would be unwelcome
Ryanair already owns 29.4% of the Aer Lingus company – just shy of the level which prompts an automatic takeover bid under company law. The budget carrier has already had two audacious bids rejected.
Ryanair acquired a partial stake in Aer Lingus after its privatisation in 2006, then notified the European Commission that it was seeking a takeover.
One major concern over a takeover was that the Aer Lingus brand could lose its valuable landing slots in London's Heathrow Airport and the State would miss a key tourism and business link to the British capital.
The Minister explained: "We have a 25% stake. You actually need 30% to block any changes on slots."
This was on foot of the European Court of Justice ruling that Ryanair's earlier bid for Aer Lingus should be blocked.
The court ruled at the time that Ryanair could keep its 29.9% stake but refused to allow Ryanair's hostile bid saying it would create a monopoly for flights from Dublin airport.
Ryanair Chief Executive Michael O'Leary said the ruling would not prevent the low-cost carrier from making a future offer for Aer Lingus.
(LB/BMcC)
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Ryanair To Sell Aer Lingus Stake To IAG
Ryanair has confirmed its board has voted "unanimously" to accept the IAG offer for its 29.8% shareholding in Aer Lingus Group. The airlines stake has been available for sale since May 2012. The board has said it believes the current IAG offer "maximises Ryanair shareholder value.
Ryanair To Sell Aer Lingus Stake To IAG
Ryanair has confirmed its board has voted "unanimously" to accept the IAG offer for its 29.8% shareholding in Aer Lingus Group. The airlines stake has been available for sale since May 2012. The board has said it believes the current IAG offer "maximises Ryanair shareholder value.
28 August 2013
Ryanair Told To Reduce Aer Lingus Stake
Ryanair has been told that it must reduce its stake in Aer Lingus from 29.8% to 5%. The UK Competition Commission (UKCC) made the demand of the airline, as well as informing them that they are not to seek or accept board representation at Aer Lingus, or try to acquire any further shares.
Ryanair Told To Reduce Aer Lingus Stake
Ryanair has been told that it must reduce its stake in Aer Lingus from 29.8% to 5%. The UK Competition Commission (UKCC) made the demand of the airline, as well as informing them that they are not to seek or accept board representation at Aer Lingus, or try to acquire any further shares.
05 November 2012
Aer Arann To Suspend Services From Waterford Airport
Aer Arann, operating as Aer Lingus Regional, is to suspend its services at Waterford Airport with effect from 6 January, 2013. The routes affected will be Aer Lingus Regional services from Waterford Airport to London Southend, London Luton and Manchester. The airline will continue to operate as normal from Waterford up to 6 January, 2013.
Aer Arann To Suspend Services From Waterford Airport
Aer Arann, operating as Aer Lingus Regional, is to suspend its services at Waterford Airport with effect from 6 January, 2013. The routes affected will be Aer Lingus Regional services from Waterford Airport to London Southend, London Luton and Manchester. The airline will continue to operate as normal from Waterford up to 6 January, 2013.
17 January 2011
Arann Flies To Scotland With Aer Lingus
Aer Lingus and Aer Arann have announced plans for a new route from Shannon to Edinburgh as part of the franchise agreement between the two airlines. From 27 March, Aer Lingus Regional, operated by Aer Arann, will provide flights to Shannon from Edinburgh five days a week.
Arann Flies To Scotland With Aer Lingus
Aer Lingus and Aer Arann have announced plans for a new route from Shannon to Edinburgh as part of the franchise agreement between the two airlines. From 27 March, Aer Lingus Regional, operated by Aer Arann, will provide flights to Shannon from Edinburgh five days a week.
17 August 2012
Ryanair Proposing To Pull Aer Lingus Routes To Avoid Monopoly
It has been revealed that Ryanair is in discussions with the European Commission about pulling Aer Lingus from a series of routes out of Dublin if it is granted permission to take over the airline. This would allow a number of major European airlines, including British Airways and Virgin, to operate from routes vacated in the airport.
Ryanair Proposing To Pull Aer Lingus Routes To Avoid Monopoly
It has been revealed that Ryanair is in discussions with the European Commission about pulling Aer Lingus from a series of routes out of Dublin if it is granted permission to take over the airline. This would allow a number of major European airlines, including British Airways and Virgin, to operate from routes vacated in the airport.
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