Airline Industry Information - Ireland to seek Aer Lingus funding from marketsAIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD
The Irish government is set to turn to the markets to raise funds for national airline Aer Lingus after three top executives resigned over future changes at the airline.
The three men, widely credited with putting the airline back into profit, chief executive Willie Walsh, chief operations officer Seamus Kearney and chief financial officer Brian Dunne, will all leave their posts in May 2005, with local media reporting that they wanted to go before getting into a public battle with the government over Aer Lingus' future.
Ireland's Transport Minister Martin Cullen said that state investment was not likely and the government will be seeking options elsewhere. Some quarters of the Irish government have been calling for the airline to be privatised.
Cullen said that the government has now recognised the need for private investment but that its first priority is to find a new chief executive, reports Reuters.
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