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|IAG submits safeguards on Aer Lingus connectivity|
RNS Number : 8091D
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.
IAG SUBMITS SAFEGUARDS ON AER LINGUS CONNECTIVITY TO IRISH GOVERNMENT
IAG believes its proposal would secure and strengthen Aer Lingus' long term future and brand as a member of a successful and profitable European airline group, offering significant benefits to both
To secure the support of the Irish Government, IAG is proposing to offer legally binding commitments that go well beyond the protections currently available to the Government and would give it an important role in securing the future of
The proposed commitments would ensure that, unless there is explicit Irish Government agreement:
· Aer Lingus' 23 slot pairs at London Heathrow ("Heathrow Slots"), cannot be sold, including to other IAG airlines;
· Aer Lingus' name, head office location or place of incorporation in the
· In addition, IAG is prepared to offer a further commitment to operate the slots on Irish routes for five years. This is protection that the Government does not have today.
The commitments and giving greater powers to the Irish Government will be subject to Irish Takeover Rules and EU competition review, following consultation with IAG.
IAG has spelled out other key benefits from its proposal:
IAG Investor Relations
Notes to Editors
IAG has submitted a proposal to make an offer for
The Board of
The Directors of IAG accept responsibility for the information contained in this announcement. To the best of their knowledge and belief (having taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.
This announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.5 of the Irish Takeover Panel Act, 1997, Takeover Rules 2013 (Irish Takeover Rules). A person interested in (as defined in the Irish Takeover Rules) 1% or more of any class of relevant securities of
A copy of this announcement will be available on the IAG website at www.iagshares.com.
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