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Irish parliament approves sale of Aer Lingus stake to IAG

Reuters - UK Focus

DUBLIN, May 28 (Reuters) - Ireland (Other OTC: IRLD - news) 's parliament approved the sale of its 25 percent stake in Aer Lingus (Other OTC: AELGF - news) to IAG on Thursday, clearing a hurdle for the takeover of the airline and limiting political damage for the government.

The government on Tuesday agreed to sell its stake after British Airways-owner IAG gave reassurances on jobs and routes following months of talks to soothe the concerns of government MPs under pressure from opposition parties and trade unions.

The government's decision, which had to be ratified by parliament, was approved by 74 votes to 51, with just one member of the junior Labour party voting against the government, a protest that will likely see him lose the party whip. (Reporting by Padraic Halpin, editing by David Evans)