Pilots need bank’s consent to sell Aer Lingus stake

The pilots’ investment group that splashed out over €25 million to take a 2 per cent stake in Aer Lingus in October cannot sell its shares without the consent of Bank of Scotland, the bank that helped to fund its dealings.

20th January, 2007

The pilots’ investment group that splashed out over €25 million to take a 2 per cent stake in Aer Lingus in October cannot sell its shares without the consent of Bank of Scotland, the bank that helped to fund its dealings.

Tailwind Nominees was one of a number of groups that invested heavily in the former state airline in response to Ryanair’s €1.5 billion takeover bid.

Its holding of almost 10million shares, valued...

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