The Minister for Transport Paschal Donohoe has confirmed the Government has agreed to a proposal from IAG to purchase the State’s 25% stake in Aer Lingus.
The decision follows a meeting of the Cabinet and the minster confirmed the news in a statement this evening.
The statement from Minister Donohoe read:
“Today I updated the Cabinet on the latest position in relation to the IAG proposal to make an offer for Aer Lingus. This follows detailed discussions with IAG over a number of months on the information and commitments that IAG would be willing to include in an offer.
“IAG has provided additional information and certain commitments in relation to its proposal. Following detailed consideration of this and 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.”
The Government is to announce further details on the decision at a press conference set for 8.15pm.