Aer Lingus shareholder ‘would welcome fresh bid from IAG’

Aer Lingus shareholder 'would welcome fresh bid from IAG' The biggest institutional shareholder in Aer Lingus has backed the Irish carrier’s rejection of International Airline Group’s €1.1 billion takeover bid but said it would welcome a higher second offer.

Crystal Amber, which owns a 2.8% stake in Aer Lingus making it the fourth biggest after Ryanair, the Irish government and Etihad Airways, responded after shares in the Irish carrier soared on news of the approach last week.

“We’re fully supportive of management’s decision to reject this opportunistic offer”, Richard Bernstein, investment adviser at Crystal Amber, told The Telegraph. “This is a world class airline with great assets and strong growth prospects.”

However, the activist investment fund fuelled speculation that IAG chief executive Willie Walsh will have a second attempt at buying up the airline group by adding: “If IAG would like to return with an offer which reflects this…we’d be happy to consider it”.

Bernstein added that a takeover would boost Dublin as a transport hub.

The City is heavily anticipating Walsh to come back with a sweetened offer for Aer Lingus which will see him returning to the airline he joined to train as a pilot at the age of 17 before rising through the ranks to run the company.

Sourced from Travel Weekly

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