herald

Tuesday 6 December 2016

New IAG offer to buy State's share of Aer Lingus will 'allay TDs' concerns'

British Airways owner IAG has offered to pay €1.36bn to buy the State’s stake in Aer Lingus
British Airways owner IAG has offered to pay €1.36bn to buy the State’s stake in Aer Lingus

THE new offer on the table from airline giant IAG to buy the State’s share in Aer Lingus will “allay a lot of concerns” among Labour TDs, according a senior source in the party.

The source, who is close to the deal being discussed at Cabinet today,  said he is “pretty confident” that the concerns among TDs, mostly from North Dublin, will be addressed in the new offer.

READ MORE: Labour TDs 'in a panic' over sale of Aer Lingus

He said the motion agreed on at the Labour Party’s annual conference is dealt with in the new package being offered by IAG boss Willie Walsh.

“Once details of this is out there  - the membership will see it is a reasonable and of long term value to the State,” the source said.

“They will have a conversation about it but there is a view that there is an awful lot of promises in the offer that meets their needs,” he added

The source admitted the deal might not get across the line today.

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