State must wait for €335m from IAG for Aer Lingus stake

It could be years before any of the €335m the State received from IAG for its stake in Aer Lingus is put to use in improving the country’s connectivity, it has emerged.

The State landed the multi-million euro windfall after the contentious takeover of the former national carrier was completed in August.

The proceeds of the sale, contained within a new connectivity fund, have been earmarked for investment projects that will enhance connectivity to and from, as well as within, the State.