Aer Lingus will be valued at the lower range of Europe’s airlines, independent analysts have warned. The effect would be to lower the amount the government and the company will raise from its forthcoming initial public offering (IPO).
Michael Powell, analyst at Dresdner Kleinwort Wasserstein, said that Aer Lingus will be valued at the ‘‘bottom of the range’’ at eight or nine times earnings. Powell said that investors will suspect that the Irish...
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