Aer Lingus annual returns confirm IAG offer is bargain basement price

24 February 2015

by Cllr Joe Costello

The annual returns for 2014 for Aer Lingus are most impressive and are to be welcomed. In a time of difficult economic circumstances it has sprinted ahead of its competitor airlines.

With record passenger numbers in excess of 11 million passengers and a strong profit increase of 18% it is in a robust economic position. It is fast establishing itself as the transatlantic hub for Europe, having negotiated the crucial pre-clearance status for Dublin and Shannon.  It has done all this as a standalone airline.

Clearly the IAG bid for Aer Lingus is a bargain basement one in light of these returns.  The twenty three Heathrow slots alone are worth the €1.3 billion being proposed for the entire airline.

The five year guarantee is wholly inadequate.  Aer Lingus is a very valuable airline and the reasons for the Irish people holding the 25% share remain valid today.