Irish low cost carrier Ryanair said it would be willing to talk to Eithad Airways about selling its majority stake in Aer Lingus if the Abu Dhabi carrier pushes ahead with its bid to buy the Irish government’s stake in the national carrier.
The Irish government is reportedly in discussions to sell its 25 percent stake in Aer Lingus to Etihad Airways. In the event the deal is given the green light, a Ryanair spokesperson said the low-cost carrier would be willing to speak to the Abu Dhabi carrier to sell its majority share of 29.8 percent.
“[Ryanair] will enter negotiations with anyone that purchases the government’s stake in Aer Lingus,” a spokesperson told Arabian Business. “Beyond that we don’t comment on or enter into rumour or speculation.”
However, Andrew Macfarlane, Aer Lingus’ chief financial officer cast doubt on whether Ryanair would accept any offer to sell its stake.
“I’m not sure Ryanair will sell. They have been a bit inconsistent. We would prefer it if they are not on our register. It is not really appropriate to have your largest competitor as your largest shareholder,” Macfarlane told the CFO World website.
Earlier this month, Aer Lingus announced an operating profit of €49.1 million (US$65m) for 2011, a six percent decrease on 2010.
The Irish government has suggested combining its share with Ryanair’s and offering buyers a majority stake. However, this would present a problem for Etihad as foreign airlines are not allowed to own majority stakes in EU carriers.
“I can’t simply understand why non-EU airlines can’t own a majority stake. After all, you can’t steal an airline,” Christoph Mueller, Aer Lingus’ chief executive, told the Financial Times newspaper in an interview in November.
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