IAG has offered guarantees to the Irish government that Aer Lingus’ Heathrow slots will not be sold if a takeover deal is completed.
The British Airways owner has submitted a number of proposals in an attempt to secure approval from the Irish government, which is needed if the bid of €1.36 billion is to be completed.
Feb 02, 2015 IAG has offered guarantees to the Irish government that Aer Lingus’ Heathrow slots will not be sold if a takeover deal is completed.The British Airways owner has submitted a number of proposals in an attempt to secure approval from the Irish government, which is needed if the bid of €1.36 billion is to be completed.IAG.
said its proposal would “secure and strengthen” Aer Lingus’ long term future and brand as a member of a “successful and profitable” European airline group.
As well as safeguarding the Heathrow slots the airline group said it would commit to operate the slots on Irish routes for five years and the Aer Lingus name, head office location in Ireland will not be changed.
chief executive Willie Walsh said: “We are committed to maintaining and strengthening Aer Lingus. We want to develop air services that ensure Ireland’s connectivity is enhanced.
Aer Lingus Flights
“In seeking the support of the Irish Government, we propose to offer it legally binding commitments that go well beyond the protections currently available to it. These commitments would give the Irish Government an important role that they do not have today in securing the future of Aer Lingus.”
Aer Lingus Airlines Website
Last week Aer Lingus confirmed it is “willing” to accept a takeover offer of €2.55 a share. The Irish carrier said the proposed €1.36 billion bid is “subject to certain pre-conditions” and has granted access to perform a “limited period of confirmatory due diligence”.