Müller eyes up European rivals for acquisition

While the unions are eyeing the Aer Lingus cash pile to plug their pensions deficit CEO Christoph Müller is looking at acquiring European rivals.

The company has net cash of €420m that it could use to pursue merger and acquisition opportunities with other European airlines.

Aer Lingus reported that its operating profit before exceptional items had dropped to €61.1m last year, down €8m on the year before as the good weather kept holidaymakers from leaving the country during the busy summer period.