Aer Lingus IPO for Powerscourt

Aer Lingus has brought in ­financial communications agency Powerscourt as it prepares for a £670m stock market flotation in both Dublin and ­London.

The airline is expected t­o press ahead with the flotation despite the air traffic turmoil triggered by last week's terrorist threat.

Powerscourt's brief is to emphasise the airline's ‘low cost with added extras' positioning, designed to give it the edge over no-frills rivals Ryanair and EasyJet. Its slogan is ‘low fares - way better'.

The Irish government currently owns 85 per cent of Aer Lingus. After the float, it will maintain a 21.1 per cent share, while at least 50.1 per cent of the airline will be owned by Irish nationals.

‘Aer Lingus wants to be the Tesco of airlines,' said Powerscourt director Victoria Palmer-Moore, who heads the account. She reports to chief executive Dermot Mannion and is working alongside investment banks Goldman Sachs and Merrion.

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