Put That Down

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90368633Former Aer Lingus CEO Willie Walsh in 2004. He is now CEO of IAG, owner of British Airways, which is hoping to take over Aer Lingus.

The Aer Lingus board is preparing to recommend that the company’s shareholders accept a €2.55 a-share offer from IAG, moving the pair closer to a deal following six weeks of negotiations.

Aer Lingus board backs €1.3bn takeover subject to conditions (Barry O’Halloran, Irish Times)

Senior executives at Aer Lingus will earn almost €30m from their bonus share scheme if the sale goes ahead….Only executive directors and senior management benefit from Aer Lingus’s long-term incentive plan.

Aer Lingus bosses to split €30m if deal is approved (Independent.ie)

(Leon Farrell/Photocall Ireland)

17 thoughts on “Put That Down

  1. Wayne.F

    Seems to be a BS agenda to constantly imply the take over is by British airways? Why not say IAG ownes BA and Iberia? Why only BA??????

    It couldn’t possibly be the leftie line of attempting to stoke some kind of outdated nationalism against the take over now is it?

  2. Disgraced Former Minister Frilly Mickie Keane

    So Wille’s offer back then,
    Which Bertie pissed and shat on,
    Would have put more money into the exchequer, than this IAG deal.

    Good Job Fianna Fail
    Good job!

  3. Zaccone

    Given the ongoing consolidation of international air markets the AIG takeover is probably the best possible scenario for both Aer Lingus and Ireland.The general consensus among the aviation community seems to be this is good news for Ireland’s connectivity. Whereas a Ryanair takeover would have gutted Aer Lingus, IAG instead look likely to expand EI’s position as a transatlantic connector.

  4. Soundings

    So, Noonan appoints Willie to the NTMA in October 2013

    http://www.ntma.ie/news/willie-walsh-appointed-to-ntma-advisory-committee/

    The NTMA takes care of the State’s investments including its 25% stake in AL (a 25% stake which also carries specific special privileges)

    Barely a year after Willie is installed at the NTMA, Willie’s IAG makes an all-out bid for AL, with the all-important government special stake the key to getting any bid over the line.

    Not saying Noonan or Willie are guilty of any malfeasance but the perception stinks to high heaven.

    1. Disgraced Former Minister Frilly Mickie Keane

      The origins of this clusterück happened when he handed in his notice to AL.

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