Privatise Aer Lingus to revamp fleet, says boss

AER LINGUS must be floated on the stock market to bankroll the €100 million replacement of the fleet, chief executive of the State airline Willie Walsh said yesterday.

Mr Walsh said the national airline does not have the capital to finance this major purchase of aircraft and the Government is prohibited from making such a huge investment by EU regulations.

He believed privatisation was the best way the company could raise the money: “The days of State-ownership of airlines are passed. The Government wants to sell Aer Lingus - it is only a matter of when.”