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AER LINGUS HAS rejected a buy-out offer from the owner of British Airways.
IAG has confirmed that it has submitted an offer for the Irish national carrier but that the Aer Lingus board has turned it down.
A follow-up offer has not however been ruled out by IAG which said in a statement that there is “no certainty that any further proposal or offer”.
“A further statement will be made if and when appropriate,” an IAG statement added.
Aer Lingus says that the proposed deal was rejected on Tuesday after the board felt that the offer “fundamentally undervalues Aer Lingus”.
Aer Lingus also said it “strongly urged” shareholders to take no action.
IAG was formed by the merger of British Airways and Spain’s Iberia and is led by former Aer Lingus CEO Willie Walsh.
Walsh was boss of Aer Lingus between 2001 and 2005 before he took the reins at British Airways.
In reaction to the surprise announcement, Aer Lingus shares soared by more than 7% on the Irish Stock Exchange.
Ryanair is the biggest single shareholder in Aer Lingus and has made three failed attempts to buy the airline since 2007.
In early 2013, the European Commission barred Ryanair’s third attempt to take over Aer Lingus, citing concerns that the interests of passengers would be badly affected.
Ryanair still owns 29.8% of Aer Lingus, while the State owns 25.1%.
British authorities had ordered Ryanair last year to slash its holding to 5% on grounds of unfair competition, but the group is appealing the ruling.
Additional reporting from © – AFP 2014
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Joke shop
What does ejit know about local politics??
A political heavy weight? Give me a break, he hasn’t one iota if political knowledge. X factor reject in the making!
Joe
Nothing. He admitted that himself before the election and the people vote him in !!???
A proper pair of langers.
As opposed to the councillors who have won a few terms. Sometimes a fresh set of eyes is good.
It appears that no experience… Is the best experience to become a politician in Ireland.
Sign me up!
or a dead relative
I don’t really care what experience someone has, for me if they know what the people want and have a set of balls to fight for it back filled with a large bottle of cop on then I have interest in them, in saying that you man should stick to boxing
My jayus what next!!!!!!
Fr Jack for Pope..
Would love to know on what logic the community of clondalkin voted him on to the south Dublin county council . Eamonn choughlan was found out when pushed on his political views and so was Egan ahhhhhhhh .
It’s Kenneth now, as he explains in this priceless clip https://soundcloud.com/bloodboylan/kenneth-egan-on-classic-hits. Well done to him, but honestly, ffs!
To quote Gene Wilder in “Blazing Saddles”, “What did you expect? You gotta remember that these are just simple farmers. These are people of the land, the common clay of new West. You know…..morons”. I’d say that sums it up; clowns voting for someone they recognised regardless of experience, skill or ability.
Brilliantly
No disrespect to the lady who took her sisters seat (Rip) in Westmeath ,but she knows nothing about politics and never involved . People voted for her because her sister passed away . Sounds harsh but it’s the truth .
Pg
But isn’t that what always happens in Irish politics. Its ridiculous.
Don’t be ridiculous, Gabriele McFadden has been a Councillor in Athlone for years.
She’s been a councillor on athlone co council for years, and was mayor of athlone last year. She has some experience at least. To equivocate her to kenny egan is a bit much, when kenny egan getting elected is farcical.
Not entirely true she’s been a councillor for years
One Kenny was bad enough, now there are two..
Egan you gobsh!te. Love yourself some austerity for the people, do you?
It’s Kenneth don’t you know.
Keep it real for gods sake.
Kenny had Kenny there but why did he not throw a punch for us?
Do people realise that Clondalkin somehow had 8 seats and only 12 people ran for them. Egan got the final seat and just about got it, so to be honest he didn’t get a hell of a lot of support, so giving people of Clondalkin grief is fairly harsh
Absolute Disgrace! Shows how desperate people are to keep Labour out!!!!
Come on people – he does great work with the youth in Clondalkin – is that not the type of hard working local person who should represent their community??? He wasn’t elected president.
I hope that’s the case ? But if it is the case he probably didn’t need the FG tag and should have run as an independent….he might have been elected on first count ??
paul
what have kenny egan and fine gael got in common?
serious question
What has Fine Gael and undoing Kenny’s work in the community got in common???
they are hardly aa party for the youth…how many have emigrated in the last year?
The Kenny bit!
It’s a pity Egan didn’t connect with that punch.
Boom boom eh ?
Give the chap a chance for flips sake, he might be a decent councillor
At least he’s a new face unlike that horrible slug down in Blackrock !!
Are you seriously comparing Clondalkin to Blackrock? Or Bare knuckle boxer to a once former minister for education? It’s hard to tell.
And kate Feeney is a newly elected face.
In fairness he wasn’t a bare knuckle boxer
Knuckle dragger then?
As if Irish politics wasn’t farcical enough. This says more about the electorate in Clondalkin that it does about Egan.
Give the man a chance. He has a Goal.
He represented our country in the Olympic Games and won a silver medal, he has more chance of achieving his goal than others elected.
Really! You think he has more of a chance at representing the people who elected him and doing a good job, over the presiding councillors that know what they’re doing purely on the fact he came second in the Olympics? Great, now we know the mentality of the people who voted for him. And he didn’t even win a bloody gold.
His goal is to address one key area in society
Your summary on not winning a gold medal !! Says all anybody needs to know about your character & outlook on life
They’ll see his ghetto ass coming from a mile away!
Eddie, I think you missed my entire point. Choosing to pick a candidate on their Olympic record is farcical whether it be gold or silver.
But given that you missed my plainly obvious point I could assume things about your social class too, but I won’t because I’m better than that ;)
And you bring it to social class
What a pleb!!
And you bring the stupid. What a dunce. Get too many knocks to the head?
They tried the same trick with Eamon Coghlan in Dublin 15 but people saw him for the clown he is when he start doing his version of PJ Gallagher’s Jake Stevens on Vincent Browne.
I find it very difficult to understand why people have such a problem with having someone like kenny egan voted in as its for local council, where he does great work with local kids and on the national side we seem to think its acceptable to let teachers run the country, and look were that got us!! let he without voting sin cast the first stone
Typical FG, using the celebrity card
Did you include yourself as one of the backward people in that statement Helena?? The cheek of you to include the whole irish nation in the comment…and how do you know he is a dope? Do you know him? Do you know the work his does in his community?
This country gets worse. Who next Bosco?
Oh my god they picked Kenny, you bast**ds
Smack him Kenny.
Go on just one by mistake but make it a good one !
Remember how defensive and threatening he got in the Niall Boylan show when he was asked a question.
Should fit in well.
Good man Kenneth, congratulations. Can’t say I’m surprised though.
This is embarrassing, the rest of the country voted well and for politicians for change, these people voted for a celebrity who’s been bought out like a gogo girl by a desperate party because he’s been beat in the head a bit too much much…
I think the youth in Neilstown could do with some one looking out for them and even he manages to help even one its a result.
Best of luck to him.
Jesus wept ..
We really deserve every thing we get . We are what we vote .
I’m glad for Kenny that he recovered from his ‘bad patch’ but aligning himself with the hardline Banker-Austerity party, Fine Gael, sealed the deal for me.
I have no doubt he will try his best to do the right thing for his community but I just can’t support him because of his allegiance.
And the same is true for any other ‘personality politician’ working for the Establishment.
It’s time for him to get Enda and Eamon some gloves and they can give each other a real good pounding in the ring!
The voting system of proportional representation should be abolished. Otherwise, we end up with local councillors like Kenneth ‘Kenny’ Egan.
Pathetic!
This just proves that our current government have no interest in the major mental health problems we have in Ireland. Fine Gael would never have secured a seat in that area. Yet the put forward for election a guy who has admitted his own mental health and alcohol problems . I feel sorry for Kenny Egan and I hope the mental health services are in place when he realises Fine Gael just used his local popularity to obtain votes. Very low blow shame on Fine Gael
I definitely know a lot about politics and I absolutely and definitely know Kenny Egan will be the next three taoisigh in Ireland by miles
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