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Aer Lingus takeover by IAG gets the green light for go

by John Mulligan

Aer Lingus shareholders have backed resolutions that pave the way for the finalisation of the airline's takeover by IAG.

At an extraordinary general meeting in Dublin yesterday, Aer Lingus shareholders voted on four resolutions. They included a resolution to create a special share - the so-called B share - that the Irish government will hold following the takeover to allow it to veto any possible future sale of Aer Lingus slots at Heathrow.

Shareholders also approved another resolution to approve connectivity commitments that have been given to the government by IAG as part of the takeover plan.

Of the shares voted at the EGM, virtually all of them were voted in favour of the resolutions.

It's possible that Aer Lingus could become part of the IAG family as soon as next month.

Aer Lingus chairman Colm Barrington said the takeover didn't spell the end of an era for the airline.

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