BEGG COULD JOIN AER LINGUS BOARD - The Irish Times reports that ICTU general secretary David Begg and a London corporate lawyer, Michael Johns, are being lined up to join the board of Aer Lingus as representatives of its employee share ownership trust (Esot) when the airline floats next month.
The paper says that with an initial public offering pencilled in for the weeks beginning September 25 or October 2, the Aer Lingus board discussed its financial results for the first half of the year when it met on Tuesday.
The Irish Times says the board meets again tomorrow to sign off on an updated draft of the flotation prospectus, which is being amended to include the new figures. It says it is believed the results were regarded as satisfactory, given that airlines typically make the bulk of their profits in the second half of the year.
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OBJECTIONS LEAD TO INSURANCE STATS CHANGE - The Irish Independent claims pension industry market share statistics are to be seriously dumbed down to meet anti-competition concerns raised by a minority of companies in the sector.
The paper says half-yearly and annual new business sales trends have been collated by consultants Life Strategies and presented on a company by company basis for a number of years back.
Its report not alone calculated the growth - or decline - in the market from one period to the next, but most significantly showed each of the eleven or so companies' market share.
The Indo says one company - believed to be Eagle Star - and at most two questioned the way the pooled sales information for Ireland's €1.7 billion a year life and pensions market was being presented, expressing concerns that it may be anti-competitive.
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UK GAS SUPPLY PRESSURES TO EASE - The Financial Times quotes the chairman of energy regulator Ofgem as saying that gas supplies to the UK will be 'less tight' than expected this winter, holding out the prospect of lower gas prices for British businesses and households.
Sir John Mogg told the FT he was 'much more confident' that the UK would have adequate gas supplies during the coming winter, because pipeline projects that will bring gas to the UK from Norway and the Netherlands were on schedule to start operating later this year.
Although he warned against complacency, and the possibility of unforeseen events such as last January's gas dispute between Russia and Ukraine, he said: 'Shortages of gas are already seeming less of a threat'.
The paper says the comments contrast with those of Malcolm Wicks, the energy minister, who warned this week that gas would be just as scarce this winter as last. The minister said that rising gas consumption would cancel out extra supplies from Europe.
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ONLINE TRAVEL FIRMS LINE UP TO FLOAT - The Daily Telegraph says a pair of online travel companies are on the block for a combined value of £150m after appointing advisers to handle their respective sales.
The paper says online holiday group Lowcosttravel Group has appointed stockbroker Panmure Gordon to float it on the London Stock Exchange.
Last minute booking site Laterooms.com has appointed Close Brothers to assess its strategic options which could include a possible float.
The Telegraph says the two potential transactions are the latest in a long line of recent sales for internet travel retailers, including thetrainline.com and lastminute.com.
