14 Investors Interested In Aer Arann

Business & Finance - Investment

Friday, 10 September 2010 09:30

Written by Katrina Doyle

Fourteen different parties have expressed an interest in investing in Aer Arann it has been confirmed.

The news came as Michael McAteer of Grant Thornton as Examiner to Comhfhorbairt (Gaillimh), trading as Aer Arann, said the airline has a “a reasonable prospect of survival as a going concern”.

In the High Court this week Justice Mary Finlay Geoghegan appointed Mr. McAteer as Examiner.  His appointment was welcomed by Aer Arann Chief Executive Paul Schütz who said that it was “very positive news for the company”.

“As detailed in the Court the current difficulties in Aer Arann stem from external factors that were beyond our control. However we believe that we can build a robust business and develop the airline so that we can continue to provide vital regional air connectivity”, said Mr. Schütz.

“In this regard the appointment of Mr. McAteer, the interest of 14 potential investors and the aim to exit examinership within 50 days must be regarded as extremely positive as we work to develop our services and preserve as many jobs as possible in the airline and in the airports that we serve”, he continued.

Aer Arann continues to operate normally during the period of examinership and is flying a full schedule of Aer Arann services and all Aer Lingus Regional services operated by Aer Arann under the airline’s franchise agreement with Aer Lingus.  These services include four routes operating to and from Shannon.

No flights have been cancelled or are planned to be cancelled as a result of the examinership and reservations can continue to be made on www.aerarann.com. 

All bookings for Aer Lingus Regional services can continue to be made with confidence on www.aerlingus.com.

The Examiner will present a report on progress to the Court on Monday 11th October.