Employees support Aer Lingus remaining independent

Aer Lingus are in favour of the airline maintaining its independence despite Ryanair’s 750 million euro takeover bid, the carrier’s chief executive, Dermot Mannion has reported. The board of Aer Lingus rejected Ryanair’s most recent offer, which was an all-cash offer of 1.40 euros per share, claiming that the bid greater undervalued the airline.

Ryanair, the largest low-cost carrier in Europe, which currently owns nearly 30 per cent of the Irish national carrier, has made a direct appeal to the Irish government and the airline’s employees, who hold approximately 25 per cent and 14 per cent of the shares in the airline, respectively.

“I have had tremendous messages of support from staff right across the organisation — all of whom are hugely positive about this notion of continuing the path of Aer Lingus as an independent organisation going forward,” said Mannion in an interview with public broadcaster RTE.

Irish billionaire Denis O’Brien was quoted in the Sunday Independent as saying that he was opposed to any takeover bid by Ryanair. O’Brien holds a two per cent stake in Aer Lingus.

The Aer Lingus executive said that it has been in discussions with shareholders and the government throughout the week, and noted that the state would come to a decision “in its own good time.” He added: “Once we receive the formal offer from Ryanair, it may come some time this week, we will then respond with a document. It is called a defence document.”

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