(MENAFN) The Irish government is to sell its 25-percent stake in flag carrier Aer Lingus to International Airlines Group (IAG) after receiving assurances on the airline's future, The Peninsula Qatar reported.
The deal values the Aer Lingus airline at USD1.7 billion. "The government has decided that it will support IAG's proposal," the Irish transport minister said in a statement.
The minister said up to 635 new net jobs would be created at Aer Lingus by 2020 and that the USD365.73 million it would receive would go to a fund to improve transport infrastructure in Ireland.
The sale has been a hot topic for Dublin, with severe opposition within the junior government coalition party, Labor, and from unions who warned about implications for jobs and connectivity.
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