Aer Lingus privatisation plans to be announced

http://www.rte.ie/news/2006/0828/aerlingus.html

Aer Lingus privatisation plans to be announced

28 August 2006 07:29

The Government and Aer Lingus will formally announce the details of
their plans to privatise the airline later today.

Shares in Aer Lingus are expected to begin trading at the end of next
month.

The sale of more than half of the airline to private investors is part
of a €2 billion expansion programme.
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The airline will use the privatisation to secure up to €400 million
to expand its long-haul and short-haul fleets while it also need to
raise a further €100 million to strengthen the staff pension fund.

Today's news comes against the backdrop of more turbulent times for
international aviation, with higher fuel costs and heightened security
concerns.

More recently, there have been delays in the introduction of a more
flexible flying schedules between here and the US, where Aer Lingus is
keen to grow its business.

The flotation of Aer Lingus is primarily targeted at institutional
investors. It is almost certain that members of the public looking to
own a stake in the airline will need a minimum of €10,000 to invest.

Meanwhile, there's been no word from SIPTU, which has opposed the sale,
that it has since changed its position, though both sides have been
engaged in protracted negotiations to resolve outstanding issues.

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http://www.rte.ie/news/2006/0828/aerlingus.html

Aer Lingus privatisation plans to be announced

28 August 2006 07:29

The Government and Aer Lingus will formally announce the details of
their plans to privatise the airline later today.

Shares in Aer Lingus are expected to begin trading at the end of next
month.

The sale of more than half of the airline to private investors is part
of a ?2 billion expansion programme.
Advertisement

The airline will use the privatisation to secure up to ?400 million
to expand its long-haul and short-haul fleets while it also need to
raise a further ?100 million to strengthen the staff pension fund.

Today's news comes against the backdrop of more turbulent times for
international aviation, with higher fuel costs and heightened security
concerns.

More recently, there have been delays in the introduction of a more
flexible flying schedules between here and the US, where Aer Lingus is
keen to grow its business.

The flotation of Aer Lingus is primarily targeted at institutional
investors. It is almost certain that members of the public looking to
own a stake in the airline will need a minimum of ?10,000 to invest.

Meanwhile, there's been no word from SIPTU, which has opposed the sale,
that it has since changed its position, though both sides have been
engaged in protracted negotiations to resolve outstanding issues.