AER LINGUS could yet be re-nationalised, according to the country’s largest trade union which said privatising the airline was a “tragic mistake”.

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.

AER LINGUS will likely be floated on the stock exchange regardless of the investment option the Government chooses, a report on future options for the airline has indicated.