The Irish government has stated that it will keep a controlling interest in EI when EI is privatized. Precisely to prevent any such transactions occuring in the future. They canceled the privatization in 2004 in part because of these concerns (along with catching the former management with their hands in the cookie jar, deliberately running down the airline in order to reduce the valuation so they could buy it on the cheap). There is a rich history of machinations at EI involving all 3 parties (management, labour and government).