Well, it’s taken a lot of protracted discussions, promises and bargaining – but it seems that International Airlines Group has successfully obtained 90% of the shares in Aer Lingus group.
The shareholding offer was declared unconditional on the 18th August, after Ryanair confirmed the sale of their shares.
Holders of 517,490,180 Aer Lingus shares accepted the IAG offer – representing over 95% of the share ownership. Outstanding shareholders have until 1st September to accept the offer.
The next steps for the company is to cancel its listing on the stock markets and re-register a private company as part of IAG.
Willie Walsh – CEO of IAG states:
“We’d like to welcome Aer Lingus into IAG. It will remain an iconic Irish brand with its base and management team in Ireland but will now grow as part of a strong, profitable airline group. This means new routes and more jobs benefitting customers, employees and the Irish economy and tourism”.
And so that’s it – Aer Lingus is now part of the IAG Group. Hopefully IAG will keep their word, and build the Aer Lingus brand. It’s identity is a strong one and a friendly one at that. Combined with the base at Dublin (which has room by the bucket-load to grow as a hub – least of all from other parts of the UK that IAG has forgotten about), it could spark a change that’s been needed for some time.
That, and the airline rejoining oneworld.
For now, it’s a case of wait and see.
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