I can't see how Aer Lingus maintain this bid undervalues the airline. It is above the top end of the price range the government and the airline management was considering for the IPO €2.7 per share. They ended up going with the lower end price of €2.20.
Having said that I think from a competition point of view this isn't good. Two strong competing airlines has to be in the best interest of the consumer.
Fair play to O' Leary though. He is showing up the idiots in the government for making a complete botch of another privitisation. These guys couldn't run a small business properly let alone a country.
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