AER LINGUS could be privatised by the end of next year but the plans, announced by the Irish government last week, have come in for major scepticism by interested parties. Essentially the State will retain a minimum 25% shareholding in order to protect its strategic interest in the flag carrier, whose 2004 operating profit rose 30% to E107m. However it is currently leaderless with Willie Walsh departure to British Airways and Emirates executive Dermot Mannion not due to take up his new position as CEO until August. The thought of Michael O”Leary mixing it to suit his ends could scare away possible investors, although involvement by another airline such as Air France or even Emirates to gain a European foothold has not been ruled out.
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