Questions, Questions, Questions: Third time lucky? The Euro? SpiceJet & the Cape Town Convention?

It may well be third time lucky as IAG’s improved offer of €2.55 a share for Aer Lingus has been approved by the latter’s board with an announcement scheduled for today. Once again the ex-Aer Lingus pilot and CEO Willie Walsh is posed to make a high class purchase, that is of course if the Irish government who hold 25% and Ryanair agree to this deal. Ryanair still holds a huge 29.8% of Aer Lingus and its breakeven price on that holding will be at around the €2.56 mark, so the low-cost carrier will make a loss on the holding.