Saturday 16 December 2017

Former Aer Lingus boss Mueller could bag €4.4m from sale of airline to IAG

Christoph Mueller (centre), who is leaving Aer Lingus for Malaysian Airlines.
Christoph Mueller (centre), who is leaving Aer Lingus for Malaysian Airlines.

Former Aer Lingus chief executive Christoph Mueller could earn almost €4.4m from the sale of the airline to IAG.

According to the carrier’s annual report Mr Mueller had over 700,000 shares as of 31 December and had options to buy a further one million shares at a knock-down price.

The shares Mr Mueller currently owns are worth €1.8m at IAG’s current offer price while the options would be worth a further €2.55m if IAG's €2.55 a share bid for Aer Lingus goes ahead. the Irish Times reports.

Mr Mueller, who left the airline in February and is now set to take over as Malaysia Airlines chief executive in May, can buy half of his options at a price of 57.3 cent each and half at 67.7 cent.

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