Aer Lingus, (, an anglicisation of the Irish aerloingeas meaning "air fleet") is the flag carrier airline of Ireland and the second-largest airline in Ireland. Founded by the Irish government, it was privatised between 2006 and 2015 and it is now a wholly owned subsidiary of International Airlines Group (IAG), the parent company of British Airways and Iberia. The airline's head office is on the grounds of Dublin Airport in Cloghran, County Dublin, Ireland. Formed in 1936, Aer Lingus is a former member of the Oneworld airline alliance, which it left on 31 March 2007. After the takeover by IAG, it was expected that Aer Lingus would re-enter Oneworld, however, at a press briefing on 15 November 2017 the airline's CEO Stephen Kavanagh stated that the airline has "no plans to join Oneworld". The airline has codeshares with Oneworld, Star Alliance and SkyTeam members, as well as interline agreements with Etihad Airways, JetBlue Airways and United Airlines. Aer Lingus has a hybrid business model, operating a mixed fare service on its European and North African routes and full service, two-class flights on transatlantic routes. Ryanair owned over 29% of Aer Lingus stock and the Irish state owned over 25% before being bought out by IAG in 2015. The state had previously held an 85% shareholding until the Government's decision to float the company on the Dublin and London Stock Exchanges on 2 October 2006. The principal group companies include Aer Lingus Limited, Aer Lingus Beachey Limited, Aer Lingus (Ireland) Limited and Dirnan Insurance Company Limited, all of which are wholly owned. On 26 May 2015, after months of negotiations on a possible IAG takeover, the Irish government agreed to sell its 25% stake in the company. Ryanair retained a 30% stake in Aer Lingus which it agreed to sell to IAG on 10 July 2015 for €2.55 per share. In August 2015, Aer Lingus' shareholders officially accepted IAG's takeover offer. IAG subsequently assumed control of Aer Lingus on 2 September 2015.