Dáil approves Aer Lingus sale

Dáil approves Aer Lingus sale

The Dáil has voted to approve the sale of the Government's remaining stake in Aer Lingus.

TDs voted 74 to 51 in favour of the sale to IAG, in a deal worth €335m.

Labour's Michael McNamara was the only defector from the Government parties, and is expelled from the parliamentary party as a result.

Aer Lingus has welcomed the decision with the group's Chairman, Colm Barrington, saying: "This is a compelling transaction for Aer Lingus, its shareholders, its employees, its customers and for Ireland.

"Shareholders will realise an attractive return through the premium that the IAG offer provides over the level of our share price immediately prior to the announcement of IAG’s offer.

Aer Lingus will reap the commercial and strategic benefits of being part of the much larger and globally diverse IAG Group and as a member of the oneworld alliance of 17 airlines that together carry over 500 million passengers."

He said it would accelerate enhance Ireland’s position as a natural gateway connecting Europe and North America.

He said: "It will give Irish tourism access to major traffic flows and customer loyalty programmes and provide better access for business interests and to cargo flows.

"This in turn will lead to an increase in jobs at Aer Lingus, in support activities and the tourism sector and, importantly, will strengthen connectivity to and from Ireland."

More on this topic

Aer Lingus records €45m operating profit since joining IAGAer Lingus records €45m operating profit since joining IAG

Government to formally accept IAG's offer for Aer LingusGovernment to formally accept IAG's offer for Aer Lingus

Aer Lingus shareholders vote in favour of IAG takeoverAer Lingus shareholders vote in favour of IAG takeover

Gatwick slots handed over for Aer Lingus sale approvalGatwick slots handed over for Aer Lingus sale approval


More in this Section

'The show must go on' - Shane Ross returns to canvassing after suffering hand injury'The show must go on' - Shane Ross returns to canvassing after suffering hand injury

The Lotto results are in...The Lotto results are in...

Man (35) charged following alleged stabbing in the NorthMan (35) charged following alleged stabbing in the North

Seamus Mallon funeral details announcedSeamus Mallon funeral details announced


Lifestyle

Food news with Joe McNameeThe Menu: Upcoming food highlights

THE health properties of tea have long been advertised. “It maketh the body active and lusty” a 1660 promotion suggested. However, before you dunk your teabag into a mug of steaming water, spare a thought for the environment. Some have polypropylene to help to seal them and it doesn’t decompose.Storm in a teacup: Top 8 loose-leaf teas

Bestselling author Isabel Allende talks to Rowena Walsh about life, grief, and why it’s never too late to fall in loveIsabel Allende: It's never too late to fall in love

Cliffs of Moher Retreat owner Michelle Moroney has written a book on finding self-worth and stepping back from our 24/7 lives. She talks to Marjorie Brennan about the need to unwindMichelle Moroney highlights the need to take stock of our lives

More From The Irish Examiner