State still plans to sell AIB shares within six months

The Government is still planning to sell shares in AIB at the first opportunity, in May or June, the Irish Examiner understands, as the bank last night announced a huge programme of bank closures and 130 voluntary job losses at its unit in the North.

A Government source told the Irish Examiner it was still looking at “the first window” of opportunity for an IPO.

Finance Minister Michael Noonan last month said that May or June was the first date that it had in mind for selling shares in AIB, which was reissued at huge cost to taxpayers during the financial crisis.