IBEC welcomes Aer Lingus announcement

The business and employers group IBEC today welcomed the announcement by the Minister for Transport Martin Cullen and Aer Lingus that the Aer Lingus IPO is to proceed in the coming weeks.

The partial privatisation will provide funding for the airline's fleet upgrade and replacement programme, which could entail expenditure of over €2bn.

Commenting on the announcement, IBEC transport director Reg McCabe said: "The IPO announcement is very welcome news for the taxpayer and the travelling public. In particular Aer Lingus customers can look forward with greater certainty to the expansion of the airline's route network, with new services to North America and possibly Asia."

He added that the IPO brought greater urgency to the need for an open skies agreement to be concluded between the EU and the US.