Air Transport World

Aer Lingus: aerlingus.com.(Europe)(Aer Lingus Group PLC)(Brief article)

The long-anticipated privatization of Aer Lingus finally moved forward in April when the Irish government confirmed it will sell off a majority through an IPO while retaining a stake of "at least 25.1%." As this issue went to press, the government had not disclosed when the transaction would take place. From a timing perspective, however, it may have missed the peak. The carrier's operating profit from continuing activities fell 32% to [euro]72.4 million ($86 million) last year and revenue slid 3% to [euro]883 million despite a 16% jump in passenger boardings to 8 million, with continental European passengers up 34%.

New CEO Dermit Mannion, ex-Emirates, has brought a bit of the Gulf with him. …

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