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Aer Lingus board 'willing to take £1bn IAG bid' | |
(15 minutes later) | |
The board of Aer Lingus has said it is willing to accept a takeover proposal worth about £1bn from British Airways owner, International Airlines Group. | |
The planned takeover of the airline is to be discussed by the Irish government at a cabinet meeting later. | |
The government owns a quarter of Aer Lingus shares and has the power to block the takeover bid by IAG. | |
IAG's main interest in the Irish airline is its 23 pairs of take-off and landing slots at Heathrow Airport. | |
Ryanair, as a major shareholder in Aer Lingus, would also have to be in agreement on the proposal. | |
If the deal is done, it could allow IAG to operate more lucrative long-haul flights from Heathrow. | If the deal is done, it could allow IAG to operate more lucrative long-haul flights from Heathrow. |
That is worrying some politicians in the Republic of Ireland. | That is worrying some politicians in the Republic of Ireland. |
They fear it could mean regional airports like Cork will lose their Heathrow flights. | They fear it could mean regional airports like Cork will lose their Heathrow flights. |
The Republic of Ireland's transport minister Paschal Donohoe said the issue of Heathrow would be crucial in any evaluation of the bid. | |
However, the government is unlikely to make a final decision on Tuesday. | However, the government is unlikely to make a final decision on Tuesday. |
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