Etihad eyes talks to buy Ireland's Aer Lingus stake

MANAVIGATOR-February 10, 2012-Etihad eyes talks to buy Ireland's Aer Lingus stake

10 February 2012 - UAE-based airline Etihad is prepared to negotiate with the Irish government a deal to buy its 25% in airline Aer Lingus (ISE:AERL), Etihadâ(EURO)(TM)s chief executive, James Hogan, was cited today by the Irish Independent newspaper as saying.

According to the CEO, Etihad executives had a look at the Irish airline, but no talks have been held over a deal, the paper said.

Ireland announced in 2011 it would explore a potential disposal of its Aer Lingus stake as part of a privatisation programme imposed under its bailout by the European Union and the International Monetary Fund.Based on the airlineâ(EURO)(TM)s current market capitalisation, the governmentâ(EURO)(TM)s stake is worth around EUR118m (USD156.4m), Reuters said.Country: Ireland, Sector: Air TransportTarget: Aer Lingus Group PlcBuyer: Etihad Airways PJSCType: PrivatisationStatus: TalksComment: Ireland's stake valued at USD156.4m based on company's current market capitalisation.