Aer Lingus management seek approval for potential buy-out
Senior executives at Aer Lingus have asked the Government to approve a possible management buy-out at the airline.
The proposal has come from the airline's chief executive, Willie Walsh, the chief financial officer, Brian Dunne, and the chief operations officer, Seamus Kearney.
Firstly, they want the Department of Transport to allow them develop what they have labelled an 'attractive investment proposal' for the company.
As employees, the three are obliged to inform the Department of their intentions before proceeding to develop any such plan, and in making such a move, they have said that they will fully comply and co-operate with any corporate governance procedures put in place.
The Government has an 85% stake in the national airline, so it must now decide how to proceed.
