Home > Economy > Aer Lingus Chair backs IAG bid

Aer Lingus Chair backs IAG bid

Written by Business World, on 17th Feb 2015. Posted in Economy

article headlineAer Lingus Chairman, Colm Barrington today gave an unequivocal endorsement of the airline's takeover by British Airways owner, IAG. Addressing the Oireachtas Joint Committee on Transport and Communications, he said: "Let me start off by stating our position very clearly. My own, and the Aer Lingus Board's, strongly held view is that a combination of Aer Lingus with IAG has a compelling strategic rationale and will deliver significant benefits to Aer Lingus, to Aer Lingus' employees, to Aer Lingus' customers and to Ireland." "Over recent weeks we have listened carefully to the public debate regarding IAG's proposal. During this period we have had further detailed discussions with representatives of IAG and the Aer Lingus Board has a greater understanding of IAG's intentions for the future of Aer Lingus and the proposed commitments that IAG is prepared to make in relation to Aer Lingus and to the government. These discussions have further confirmed that it is clearly in IAG's interests to continue to grow Aer Lingus within the IAG Group." "Aer Lingus being part of IAG represents a hugely positive opportunity for Aer Lingus and for Ireland. This deal is about accelerated growth. It provides real prospects for long term economic growth, for growth in global connectivity, for growth in international trade, for growth in tourism and for growth in employment. I am surprised that it can be represented in any other way. It is on the basis of these understandings that I, and the Aer Lingus Board, have given our strong support to the proposed transaction," Mr Barrington added. For more visit www.businessworld.ie

More articles from Economy

image Description

Strong tax revenue growth in October

Read more
image Description

Tax cuts will limit Irish resilience to future economic shocks warns NERI

Read more
image Description

Moody's upgrades Ireland's sovereign credit rating

Read more