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Aer Lingus Shareholders Approve IAG Takeover at EGM

By Steve Wynne-Jones

About 80 shareholders voted in favour of the IAG takeover of Aer Lingus at the airline's extraordinary general meeting in Dublin on Thursday.

The meeting lasted about 30 minutes and addressed four major areas including the the Government's 'B Share' - which gives the State a veto on future sales - and connectivity commitments that were promised by IAG.

Almost all of the shareholders voted in favour of the resolutions, which paves the way for a quick turnover. IAG could incorporate Aer Lingus as soon as next month.

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Aer Lingus chairman Colm Barrington spoke after the meeting, assuring any concerned parties that the company will not be changed from the inside out.

“It’s a change in shareholding for Aer Lingus. The company is still Aer Lingus, still got the same people, the same brand, the same routes, the same customers,” said Barrington. “It’s just a change of shareholders from the Government and Ryanair, and some institutions, to IAG.”

He added that jobs will not be lost as a result of the takeover, as the airline plans to add 165 jobs before the end of next year, and will have increased connectivity.

"We are hopefully going to announce two more transatlantic routes before the end of the year, so I think from that point of view people are probably misguided," he concluded.

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Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
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