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March 31, 2012

European Commission clears British Airways owner IAG to buy bmi from Lufthansa

European Commission clears British Airways owner IAG to buy bmi from Lufthansa

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Saturday, March 31, 2012

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The European Commission (EC) has approved yesterday a takeover of loss-making UK airline bmi from Lufthansa by International Airlines Group (IAG), owner of British Airways (BA). IAG will have to make concessions after Virgin Atlantic told the EC the deal would be anti-competitive.

A bmi Boeing 737 at Edinburgh Airport. Rival Virgin had claimed the sale would give BA excessive dominance in Scotland.

The deal is set to cost IAG, who also own Iberia, £172.5 million. That value could fall as budget subsidiary bmibaby may be retained by Lufthansa or sold elsewhere, and IAG are reported to be primarily interested in the main bmi business. A regional subsidiary also exists.

IAG intends to use acquired slots at the busy Heathrow Airport, which serves London, to expand their own routes into Asia. The EC required IAG to surrender a number of flight slots at the airport. The slots surrendered or made available for lease are for use to destinations in Scotland, France, Egypt, Saudi Arabia, and Russia. The EC also insisted that combined BA/bmi routing be made available for competitors to buy transfer seats upon.

Lufthansa intended to shut down bmi had the bid failed. The transaction is presently scheduled for completion April 20.

IAG boss Willie Walsh called the sale “great news for Britain” with results that are “good for UK business and UK consumers.” Virgin boss Sir Richard Branson had previously said the move would give BA excessive dominance on Scottish flights. More Heathrow slots earmarked for Scotland have been given up than any other destination.

Ryanair took the opportunity to claim only their own takeover bid for Aer Lingus has been a major EC casualty. “Today’s rubber-stamping of BA’s purchase of bmi shows yet again that the EC has one rule for Europe’s flag-carriers, but different rules for Ryanair”, said Ryanair chief Michael O’Leary.



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March 11, 2010

Irish airline Aer Lingus to cut more staff

Irish airline Aer Lingus to cut more staff

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Thursday, March 11, 2010

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An Aer Lingus Airbus A320-200 taxis at Bristol International Airport, Bristol, England.
Image: Adrian Pingstone.

Aer Lingus, an Irish airline, has announced that it will cut about 230 staff in the near future in compulsory job losses, bringing the total number of layoffs from the airline to 670. 440 other workers will face voluntary job losses.

The company believes the job reductions will save it 97 million euros. Chief Executive Officer Christoph Mueller said the move would start “within days” and the airline would return to profitability “relatively soon.”

The airline, which is Ireland’s second-largest, also announced today that its operating loss for last year went up by four times, to 81 million euros. The labour union IMPACT, which represents cabin crew for Aer Lingus, is to meet with the airline’s management tomorrow regarding the company’s move. The union also remarked that time available to “broker a solution is extremely limited.”

Aer Lingus revenue dropped to 1.21 billion euros after an eleven percent drop last year, according to the airline, even though passenger numbers increased to 10.4 million. According to the Bloomberg news service, Aer Lingus’ net cash reserves went down to 335 million euros.



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June 9, 2007

Aer Lingus buys twelve new long-haul Airbus jets

Aer Lingus buys twelve new long-haul Airbus jets

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Saturday, June 9, 2007

Aer Lingus Airbus A320-200 from the current fleet.

Irish national airline Aer Lingus have purchased 12 new long-haul Airbus aircraft as a means of modernising it’s long-haul fleet and improving it’s transatlantic network.

Under the agreement, Aer Lingus Group PLC said it will receive six new A330-300E aircraft from 2009 to 2011, then between 2014 and 2016 it will take delivery of six new A350 XWB (Extra Wide Body) aircraft, a new design currently under development by Airbus. Aer Lingus also have options of six more A350s to exercise by 2018.

Aer Lingus already operates an all-Airbus fleet consisting of 30 short-haul aircraft( 24 A320s and 6 A321s) and eight long-haul A330s, and had made the purchase of new long-haul airliners a top priority since the formerly state-owned company was floated on British and Irish stock markets in September 2006. The airline had approached Airbus rival Boeing regarding a potential deal for their new 787 aircraft, but Aer Lingus Chief Executive Dermot Mannion stated that he believed the Airbus aircraft were “better on fuel and better on range” than the 787. He also said that, although the aircraft have a catalogue value of €1.78 billion (US$2.4 billion), Airbus had offered them at an “exceptional discounts” on them. Some of the A330s will be replaced by the new aircraft.

As well as new routes to the US, Mannion stated that there was a possibility of routes elsewhere resulting from the new aircraft as well, saying, “We will prioritize the U.S. (but) we have an eye as to what’s happening to the Far East and South Africa.” The airline already offers flights to New York, Boston, Chicago, Los Angeles, Dubai, and recently launched 3 new U.S. routes to San Francisco, Orlando, and Washington.

Aer Lingus shares on the Irish Stock Exchange fell 2.5 percent to €2.73 ($3.68) the day the deal was announced. It will fall through unless backed by shareholders.

Aer Lingus rival Ryanair has been attempting to take over Aer Lingus since December, and if this bid is successful, the new aircraft may become redundant as Ryanair intends to end transatlantic services. However, the Irish government, which holds a 25 percent share in Aer Lingus, disapproves of the takeover, as do Aer Lingus employee-controlled trusts that hold more than 15 percent shares. Ryanair owns a 25 percent share in Aer Lingus. The takeover is also unlikely to receive regulatory approval from the European Union.

Mannion said of the integration of the new aircraft “The A350 XWB fits in with our ambitious plans to expand existing routes and to open up new ones from our hub in Dublin. We already have an all Airbus fleet and the new aircraft will fit in seamlessly.”

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April 23, 2005

Dermot Mannion becomes new Aer Lingus CEO

Filed under: Aer Lingus,Archived,Economy and business,Europe,Ireland — admin @ 5:00 am

Dermot Mannion becomes new Aer Lingus CEO

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Saturday, April 23, 2005

Dermot Mannion has been named the new Chief Executive of Ireland’s national carrier, Aer Lingus. Mr. Mannion, 47, will take up the post in August 2005.

Aer Lingus almost went bankrupt in 2002, but a major cost-cutting effort by former CEO Willie Walshe lead to a dramatic turnaround in the airline’s fortunes, posting its largest ever profit in 2004. However, Willie Walshe left after a dispute with the government over privatization. He has since landed the top job at British Airways.

Mr. Mannion, an accountant, has extensive experience of aviation, having worked for the Dubai based airline Emirates since 1995. There he worked as Finance Director and later President of Group Support Services. He originally comes from County Sligo and is a graduate of Trinity College, Dublin.

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March 8, 2005

British Airways announces new CEO

British Airways announces new CEO – Wikinews, the free news source

British Airways announces new CEO

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Tuesday, March 8, 2005

British Airways has named Willie Walsh as new CEO

The British national airline, British Airways has announce that the former CEO of Aer Lingus, Willie Walsh is to be their new CEO. Mr Walsh is to replace the current CEO, Australian-born Rod Eddington in September after his retirement.

Willie Walsh started as a cadet for Aer Lingus at the age of 17, later becoming a captain of the airline. In 1998, he became the chief-executive of the airline’s charter subsidiary Furtura, and later in 2000 chief finance officer. In the wake of 11th September 2001, he became the chief-executive of Aer Lingus, itself. Worried about what happen to Swissair and Sabena, he looked at the rival Irish airline Ryanair for inspiration and made Aer Lingus in effect a no-frills airline, such as replacing the infamous turquoise uniforms with polo shirts and promoting via the Internet.

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March 7, 2005

British Airways CEO set to step down in the summer

British Airways CEO set to step down in the summer

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Monday, March 7, 2005

The Sunday Times and Observer newspapers today both stated that British Airways CEO Rod Eddington is planning to step down in the Summer. Althought no official announcement has been released from the airline about Mr Eddington’s future, speculation is already mounting on who the successor will be.

Possible internal candidates include marketing director Martin George and finance director John Rishton. However it is quite possible that an external executive such as Willie Walsh, former CEO of Aer Lingus, could take the post. Mr Walsh successful turned around Aer Lingus into one of the most profitable national carriers in the world after it had almost bankrupt in 2002.

Mr Eddington took over the top job at British Airways in May 2000

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