 New planes will be bought with money raised from the float |
Ireland's state-owned airline Aer Lingus has said its shares will be priced at between 2.10 and 2.70 euros each when the company floats. The price values the carrier at between 1.1bn-1.3bn euros (�745m-�880m), and is set to give Aer Lingus net proceeds of about 470m euros.
The government, which owns 85.1% of the airline, is selling more than 50% of its shares to investors.
About 104m euros will go on reducing the firm's pension gap.
 | AER LINGUS FACTS Airline focussing on passenger transport Fleet of 35 aircraft 11 routes from Ireland to the UK 57 routes from Ireland to mainland Europe Long-haul flights to US and UAE |
The remainder will be used to expand the Aer Lingus fleet and its operations.
Union leaders have expressed concerns that the float could result in job cuts.
The exact share price will be confirmed on 27 September. Trading is expected to begin on both the Dublin and London stock exchanges on 2 October.
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