Aer Lingus share price set at €2.20

The price of Aer Lingus shares has been officially set at €2.20 this morning, valuing the national airline at €1.13bn.

The price was announced by Minister for Transport Martin Cullen and the Aer Lingus Group in a statement to the Irish Stock Exchange.

The Government, which will get €200m from the sale, has decided to initially retain a 28% stake, but is likely to sell another 3% to Aer Lingus staff during the next few years.

The share will be listed on the stock exchanges in Dublin and London next Monday, with a minimum investment of €10,000.