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IAG rules out Aer Lingus acquisition; bmi, TAP preferred

19-Sep-2011 12:50 PM

IAG CEO Willie Walsh stated the group has no interest in Aer Lingus, with the EUR400 million pension deficit a major concern for IAG, according to reports in the Irish Independent and The Guardian. ”It's [Aer Lingus] got a lot of challenges; it's not helped by the fact that the Irish economy is in a weak position,” said Mr Walsh. “With Ryanair on 30% and the Government on 25%, nobody in their right mind would look to invest in Aer Lingus – that would require both the Irish Government and Ryanair to decide to sell,” said Mr Walsh. “I know a lot about pension deficits – there's one thing you don't want to do and that's go looking for one,” Mr Walsh stated. Mr Walsh said IAG has a greater interest in bmi and TAP Portugal.