Cork Anti Austerity Cllr against Aer Lingus sale

27th January 2015
By Bryan Smyth
bryan@TheCork.ie

Anti Austerity Alliance councillor Mick Barry today said that
International Airlines Group (AIG) control of Aer Lingus would mean
complete control of Cork’s connectivity resting in the hands of
“profiteers” who would ultimately decide to increase or reduce
connectivity on the basis of profit potential.

Cllr Barry said “It is impossible to fully control what you do not
own and if AIG secure full control of Aer Lingus they will find a way
to get around any deal on connectivity if it damages their profit
potential in the medium to long-term.”

Cllr Barry also slammed the Aer Lingus board for recommending IAG’s
1.36Bn euro share offer and pointed out that Aer Lingus executives
would be set to profit by 30m euro in share bonuses from a sale.

He said: “Senior Aer Lingus executives have a vested interest in
pushing this sale through. But what is good for senior Aer Lingus
executives is not necessarily good for the Cork region or for the
workforce in Aer Lingus.”

Noting that any sale of the State’s 25% share in Aer Lingus would have
to be approved by the Dail, Cllr Barry drew attention to the fact that
a sale cannot realistically be finalised without the support of the
Labour Party.

He said: “The Labour Party have the power to block this sale. A sale
would be bad news for consumers, bad news for the workforce and bad
news for Cork and Shannon. People will watch with great interest now
the position taken by the Labour Party on these matters.”

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