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20/08/2001
Turbulent times ahead for Aer Lingus
There is fresh turbulence ahead for Irish national airline Aer Lingus with a new survival plan reportedly recommending a 15 per cent cut in flights and a ban on buying new aircraft.
The plan has apparently been drawn up to offset a predicted £20 million pound loss this year. The troubled airline’s valuation is believed to have declined by £200 million to about £300 million since the start of the year.
Meanwhile the death of Aer Lingus chairman Bernie Cahill who died suddenly on Friday August 17 is widely expected to prompt a swift move from the Irish government to appoint a new successor. It is thought that senior figures are keen to avoid the emergence of a vacuum at the highest levels in the Irish State airline.
Aer Lingus has no deputy chairman and Mr Cahill’s death means that the two most senior positions in the airline are now vacant.
The troubled airline has also to find a replacement for chief executive Michael Foley who was sacked in June. Mr Foley lost his position after a board subcommittee upheld two complaints of sexual harassment against him. Mr Foley denied the allegations.
Although the Minister for Public Enterprise Ms O’Rourke has responsibility for Aer Lingus it is expected that the Taoiseach Bertie Ahern will consult with the Tánaiste Mary Harney and the Minister for Finance Mr McCreevy before the chairman appointment is made. (AMcE)
The plan has apparently been drawn up to offset a predicted £20 million pound loss this year. The troubled airline’s valuation is believed to have declined by £200 million to about £300 million since the start of the year.
Meanwhile the death of Aer Lingus chairman Bernie Cahill who died suddenly on Friday August 17 is widely expected to prompt a swift move from the Irish government to appoint a new successor. It is thought that senior figures are keen to avoid the emergence of a vacuum at the highest levels in the Irish State airline.
Aer Lingus has no deputy chairman and Mr Cahill’s death means that the two most senior positions in the airline are now vacant.
The troubled airline has also to find a replacement for chief executive Michael Foley who was sacked in June. Mr Foley lost his position after a board subcommittee upheld two complaints of sexual harassment against him. Mr Foley denied the allegations.
Although the Minister for Public Enterprise Ms O’Rourke has responsibility for Aer Lingus it is expected that the Taoiseach Bertie Ahern will consult with the Tánaiste Mary Harney and the Minister for Finance Mr McCreevy before the chairman appointment is made. (AMcE)
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01 December 2008
Ryanair Flies Into Takeover Turbulence
There's a multi-million euro bid for Aer Lingus on the table today as budget airline Ryanair makes a fresh takeover offer. The all-cash offer would value Aer Lingus at €748m euros (£619m) a lot less than the previous offer for Aer Lingus, which valued it at €1.5 billion.
Ryanair Flies Into Takeover Turbulence
There's a multi-million euro bid for Aer Lingus on the table today as budget airline Ryanair makes a fresh takeover offer. The all-cash offer would value Aer Lingus at €748m euros (£619m) a lot less than the previous offer for Aer Lingus, which valued it at €1.5 billion.
17 December 2008
Revamped Ryanair Offer Shot-Down
Aer Lingus has rejected the Ryanair offer despite a revised bid from the budget airline yesterday. The rejection comes in spite of two major changes to the initial hostile takeover offer, with the Aer Lingus Chairman Colm Barrington dismissing the offer as "nothing new".
Revamped Ryanair Offer Shot-Down
Aer Lingus has rejected the Ryanair offer despite a revised bid from the budget airline yesterday. The rejection comes in spite of two major changes to the initial hostile takeover offer, with the Aer Lingus Chairman Colm Barrington dismissing the offer as "nothing new".
31 August 2010
Examiner Appointed To Aer Arann
The High Court has appointed an Examiner for troubled airline, Aer Arann. Aer Arann said it intends to operate normally during the period of examinership and intends to fly all Aer Arann services and all Aer Lingus Regional services operated under the airline’s franchise agreement with Aer Lingus.
Examiner Appointed To Aer Arann
The High Court has appointed an Examiner for troubled airline, Aer Arann. Aer Arann said it intends to operate normally during the period of examinership and intends to fly all Aer Arann services and all Aer Lingus Regional services operated under the airline’s franchise agreement with Aer Lingus.
02 June 2009
Ryanair Flies Low
The budget airline Ryanair - which flies from two bases in Northern Ireland - has revealed financial returns showing a major nosedive in operating profits. Ryanair plunged into the red by €169.2 million (£145.9m) in the year to March after being hit with a 59% hike in its fuel bill.
Ryanair Flies Low
The budget airline Ryanair - which flies from two bases in Northern Ireland - has revealed financial returns showing a major nosedive in operating profits. Ryanair plunged into the red by €169.2 million (£145.9m) in the year to March after being hit with a 59% hike in its fuel bill.
29 November 2001
Irish airport sector hit by further redundancies
It is thought that over 200 jobs are under threat at Dublin Airport following reports that Servisair has issued protective redundancy notices to workers at the site.
Irish airport sector hit by further redundancies
It is thought that over 200 jobs are under threat at Dublin Airport following reports that Servisair has issued protective redundancy notices to workers at the site.
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Northern Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
