Home News Aer Lingus “to accept” IAG bid: BBC

Aer Lingus “to accept” IAG bid: BBC

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IAG has submitted new offer – its third so far

A new airline could soon join IAG, the owner of British Airways, Iberia and Vueling, as Irish airline Aer Lingus looks set to approve a new takeover bid, the BBC reports.

IAG has submitted a new offer – its third so far – which could be approved this week. It values Aer Lingus at around €1.3 billion (€2.55 a share). However, unions warn that 1,200 jobs could be under threat from a takeover. The Irish carrier employs about 4,000 people.

Low-cost carrier Ryanair has a 29.8% stake in Aer Lingus and the Irish state owns over 25%. The issue is likely to be discussed at an Irish cabinet meeting on Tuesday.

IAG is eager to control Aer Lingus’ take-off and landing slots at London’s Heathrow Airport, where Aer Lingus is the fourth busiest operator.

BBC

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