The drawn-out privatisation of the Irish flag-carrier Aer Lingus is expected to take on a more urgent note once new group chief executive Michael Foley has got his feet under the table in mid-September. Meanwhile, the airline will issue its delayed financial results for 1999, which will play a major role in how quickly the promised initial public offering (IPO) will materialise. The Irish Government has set no timetable for the IPO, but if the results are at least as good as the 1998 figures, when Aer Lingus achieved net profits of around $75 million, privatisation could happen early next year.
Source: Airline Business