With eyes on election, politicians say no to IAG's Aer Lingus bid
Dublin
THE owner of British Airways is running out of time to secure Ireland's Aer Lingus as questions over its commitment to keep jobs and key Heathrow routes stoke opposition from politicians facing a tough election next year.
Aer Lingus' board recommended the 1.36 billion euro (S$2 billion) offer from International Consolidated Airlines Group (IAG) last month, subject to the agreement of the Irish state to sell its 25 per cent holding. Since then IAG has said that it will maintain key landing and take-off rights at Heathrow, Europe's biggest travel hub, for its Irish routes for five years. But that has failed to quell attacks from trade unions, opposition parties and government MPs, who want stronger guarantees and assurances about employment.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
EV automakers get reprieve in US tax credit rules
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring
Chinese share of French EV market slumps after incentives curbed
Ferrari unveils US$423,000 sports car with 1960s bloodline
Airbus called for compensation to take on money-losing Spirit operations: sources