The Irish Government has approved the flotation of shares in flag carrier Aer Lingus, paving the way for an initial public offering by early 2001.
Public enterprise minister Mary O'Rourke indicates Dublin may dispose of its 95% holding in Aer Lingus, but the government is opposed to the carrier's oneworld partners British Airways and American Airlines securing a stake.
Aer Lingus chairman Bernie Cahill welcomed the government decision, saying privatisation is a fundamental requirement to provide the capital needed to expand the carrier, "particularly in the context of its recently announced alliance strategy with the oneworld grouping".
Source: Flight International