Aer Lingus sells Timas subsidiary to US firm

Aer Lingus has sold its subsidiary Timas to the Cendant Corporation, a US-based firm.

Aer Lingus has sold its subsidiary Timas to the Cendant Corporation, a US-based firm.

The Timas sale includes Galileo Ireland and the network service business Minerva. Galileo Ireland employs 60 staff from its base in Dublin.

It is believed Cendant paid around €15 million for Aer Lingus' 75 per cent stake in the group.

The sale is part of Aer Lingus' disposal of non-core operations. The airline is also selling charter airline Futura.

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Cendant, the owner of Galileo International, is now the sole owner of Timas.