Examiner appointed to Aer Arann
The High Court has tonight appointed an interim examiner to Aer Arann, which employs more than 300 people after being informed that the airline has a reasonable prospect of survival as a going concern.
The airline, in seeking the protection of the court from its creditors, cited the drop in passenger numbers caused by the global economic downturn as well as the disrution caused to flights by the Icelandic volcano earlier this year as the main reasons behind its financial difficulties.
Tonight at the High Court Ms Justice Maureen Clark said that she was satisfied to appoint Michael McAteer of Grant Thornton as interim examiner to the airline after being informed that an independent accountant's report revealed that Aer Arann has a reasonable prospect of survival if certain steps are taken.
The court was told that the airline was seeking the protection of the court because it is currently insolvent and cannot pay its debts.
Moving the petition to have Mr McAteer appointed Declan Murphy Bl for the Comhfhorbairt Gallimh, the company which operates Aer Arann, urged the court to appoint Mr McAteer as interim examiner as it was in the interests of all relevant parties including creditors, employees and the company itself.
Ms Justice Clark said that she was satisfied to appoint Mr McAteer as interim examiner as it was in the interests of those employed directly and in directly by the airline, and to help out an airline serviced small airports in both Ireland the UK.
The Judge also made the petition returnable before the High Court early next month.
