Etihad Airways (EY, Abu Dhabi International) CEO James Hogan says his airline would be willing to sell its 4.11% stake in Aer Lingus (EI, Dublin International) to the International Airlines Group (IAG) should the latter succeed in in latest takeover bid.

“If they take control ... you will most likely see us no longer being a shareholder,” he was quoted by the Irish Times at an industry conference in the United States this week.

While Aer Lingus management has endorsed the IAG's latest offer of EUR2.55 (USD2.61) per share which values the airline at EUR1.36 billion, 25.11% shareholder, the Irish government, has hesitated demanding additional guarantees over the future of Aer Lingus' coveted London Heathrow slots.

For its part, IAG has said it wants "irrevocable undertakings" from Dublin as well as from 29.82% shareholder, Ryanair (FR, Dublin International), before making a formal bid for the Irish carrier.