LONDON (Alliance News) - Aer Lingus Group PLC Friday continued to recommend International Consolidated Airlines Group SA's EUR1.36 billion offer, after it met with Ireland's Minister for Transport, Tourism and Sport to set out the benefits of the deal over the last two days.
Aer Lingus said it had set detailed benefits, including enhancing Ireland's position as a hub for Europe on the North Atlantic, accelerating its transatlantic, long haul growth plans, growing employment, enhancing short haul growth, strengthening Ireland's connectivity and accessing a global cargo network.
Aer Lingus' board has had further discussions with IAG, and "listened carefully to the public debate" surrounding the deal. In these talks Aer Lingus confirmed that IAG intends to preserve Aer Lingus as a separate operating business within the group with its own brand, management, head office and operations.
"The strong view of the board of Aer Lingus is that the prospect of Aer Lingus being part of the IAG Group has a compelling commercial logic for Aer Lingus, has significantly positive benefits for Ireland and is strongly supportive of the Irish Government's two airline policy," said Chairman Colm Barrington in a statement.
Shares in Aer Lingus are trading down 1.6% at 2.20 pence Friday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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International Airlines (IAG)
