Business

Saturday 10 December 2016

Aer Lingus delists from stock exchanges after IAG takeover

Published 17/09/2015 | 08:04

A passenger aircraft, operated by British Airways, a unit of IAG SA, passes above an Airbus A320 passenger aircraft, operated by Aer Lingus Group Plc, as it prepares to land at Dublin Airport, operated by Dublin Airport Authority, in Dublin, Ireland, on Wednesday, Feb. 18, 2015. Photographer: Aidan Crawley/Bloomberg
A passenger aircraft, operated by British Airways, a unit of IAG SA, passes above an Airbus A320 passenger aircraft, operated by Aer Lingus Group Plc, as it prepares to land at Dublin Airport, operated by Dublin Airport Authority, in Dublin, Ireland, on Wednesday, Feb. 18, 2015. Photographer: Aidan Crawley/Bloomberg

Aer Lingus shares have been delisted from the Irish and London stock exchanges almost nine years to the day since the airline's flotation.

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The airline was floated to much fanfare by the then Fianna Fáil government in 2006 at €2.20 a share.

The delisting comes after IAG completed its  €1.36bn takeover of the airline. The former State-owned carrier is now a part of the British Airways owner, which paid €2.55 a share for the company.

Last month, Mr Walsh welcomed Aer Lingus to IAG, saying the airline would benefit from new routes that would in turn benefit customers as well as the Irish economy and tourism.

Mr Walsh plans to detail his strategy for Aer Lingus in November. He wants to use the carrier to expand IAG's transatlantic business via Dublin.

A recent research report by Goodbody Stockbrokers noted that the IAG move is likely to boost total traffic at Aer Lingus from 9.8 million passengers last year to 15 million by 2020.

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