Aer Lingus to go on the cheap - Crowe
Speaking this morning Sinn Féin Transport spokesperson Seán Crowe TD reluctantly admitted that his previous expectations that Aer Lingus would be “under valued” and “sold for a pittance” are now likely to come through with the rumours that Ireland’s national airline may be sold off for as little as €615 million.
Deputy Crowe said, “This valuation of just over €600 million for a highly successful airline is scandalous. In the last two years alone Aer Lingus achieved an operating profit of €179.4 million. With the advent of historically high fuel prices, any new private owner of Aer Lingus will inevitably look for ways to offset these costs, and with staff costs accounting for 32 per cent of the cost base in 2005, I genuinely fear for the future of many Aer Lingus employees.“The fact that this government may allow our national airline to go on the cheap is outrageous, indeed it is major disappointment to the public that they will sell it off at all. Those who will lose out most are the workers, passengers and the Irish people as a whole.” Críoch