The advance notice of the announcement can be appreciated. This allows the little people to get out while they can. It also allows the stock to tumble in price before the country sells their huge stake in it, which means it will be less beneficial to paying off public debt than it could of been at a higher rate.
A wiser approach so that people didn't lose money all the way around would be to sell off in small increments within a reasonable period of time. In Varadkar's defense, air travel is insignificant when it comes to boosting an economy. As long as Aer Lingus doesn't request a bailout, the announcement of the sale should not be a costly one.
Ryan Air who holds 29% of the company stock indicates if Ireland sales, they're not buying. However, they may also sell their shares. It is apparent that neither of the major stake holders have a background in sales, as they may have suggested the benefits of the involvement of other buyers. Most folks aren't quick to buy up stock when they were just told it was worthless, at least not unless its deeply discounted.
What if Aer Lingus bought back their own stock? They should be able to get it at a discounted rate based on the reasoning of those selling. Buying back their own stock would increase value, and keep them safe from a takeover which could happen if 54% of the company's stock goes up for sale too quickly.