Company Watch - Aer Lingus.Dec 11, 2006 Aer Lingus Aer Lingus is Ireland's national airline. Based in Dublin, it operates 41 Airbus aircraft serving Europe, Africa, North America and the Middle East. The airline is 28% owned by the Irish government; it was floated on the Dublin and London Stock Exchanges on 2 October 2006, remains in the long-haul sector a full-service airline and stands to benefit significantly from transatlantic liberalization lib·er·al·ize v. lib·er·al·ized, lib·er·al·iz·ing, lib·er·al·iz·es v.tr. To make liberal or more liberal: "Our standards of private conduct have been greatly liberalized . . . . Mannion pointed out that Dublin and Shannon are the only two airports in Europe • • [ offering pre-clearance through US customs and immigration immigration, entrance of a person (an alien) into a new country for the purpose of establishing permanent residence. Motives for immigration, like those for migration generally, are often economic, although religious or political factors may be very important. . Dec 6, 2006 Aer Lingus presented its unions with a 12-point cost-cutting plan Friday as part of its continuing effort to thwart Ryanair's floundering takeover bid Noun 1. takeover bid - an offer to buy shares in order to take over the company two-tier bid - a takeover bid where the acquirer offers to pay more for the shares needed to gain control than for the remaining shares and succeed as an independent carrier. According to press reports, EI has promised not to cut jobs without workers' consent. It also intends to simplify pay grades, enact standard work rules, renegotiate airport and ground handling contracts, introduce a fuel efficiency plan and look into the establishment of overseas bases, according to The Irish Times. Dec 4, 2006 Ryanair extended the deadline for its offer for Aer Lingus shares once again, this time to the afternoon of Dec. 22, lending credence to EI CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Dermot Mannion's acknowledgement at last week's Future of Air Transport conference in London that the LCC (Leadless Chip Carrier, Leaded Chip Carrier) See leadless chip carrier, CLCC and PLCC. 1. LCC - Language for Conversational Computing. Written at CMU in the 1960's. is "not going anywhere anytime soon." Ryanair issued the extension yesterday despite the fact that valid acceptances have been received for just 4.96 million shares, representing 0.93% of the issued share capital of the recently privatized flag carrier. It already holds 25.2% of Aer Lingus. Dec 6, 2006 Ryanair's rising stake in Aer Lingus, Mannion said that EI accepts its fiduciary responsibility to the LCC as it does to all of its shareholders, but stressed again that his airline wishes to remain independent. He told the conference that EI is second only to Ryanair in Europe in profitability margin, pointing out that the two have been competing on short-haul routes for 20 years or so. "We have dramatically changed our revenue strategy and dramatically reengineered our business model to compete with the best of the rest [of the] low-cost carriers," he said. "Almost 80% of our selling activity is now online and we want to grow it well beyond that and probably close to 90% within the next 12 months." Dec 6, 2006 Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For more global news, reviews, features and analysis, please go to: http://www.airguideonline.com/onlinenews.htm To Subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com Nov 13, 2006 |
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