The Minister for Transport, Séamus Brennan T.D., today (24th March 2004) announced that had made a number of new appointments to the Board of Aer Lingus.
Minister Brennan said that given the substantial challenges that lie ahead for Aer Lingus, and the very volatile aviation business it competes in, he was pleased to have secured additional directors of the highest calibre who will assist greatly in ensuring that the airline successfully meets those challenges.
The Minister said he was pleased by the performance of Aer Lingus and the profits achieved by the airline. But aviation remains a very competitive area and Aer Lingus requires constant strong leadership which it is receiving.
The appointees are:
Sean FitzPatrick has been Chief Executive Officer of Anglo Irish Bank Corporation plc since 1986 and during that time has been instrumental in building the Bank into a highly successful and profitable financial institution. He is a graduate of University College Dublin and a qualified Chartered Accountant. He is a non-executive director of the Dublin Docklands Development Authority, Greenore Plc and a number of Irish, UK and European companies. He is a Council Member of the Chartered Accountants in Ireland and past President of the Irish Bankers Federation.
As the Chief Financial Officer of Aer Lingus since 2001 he has played a key role in stabilising the business and transforming it into a successful low fares airline. He has had a particular focus on bringing about substantial cost savings, with a reduction of 30% achieved by the end of 2003, and has also focussed on transforming the Airlines cash and liquidity position through a range of measures, including asset sales and aircraft financings. He led the review of the Airlines European fleet culminating in the decision to transition to a single fleet type by the end of 2005. He is a qualified Chartered Accountant and former partner in the consulting practice of Arthur Anderson, Chartered Accountants.
A Chartered Civil Engineer who has had a distinguished career in the public service over the last 35 years and is currently the Dublin City Councils senior engineer in charge of the multi-million Euro redevelopment and regeneration of Dublin city centre. She is a graduate of University College Galway and has previously specialised in the areas of traffic and transportation in CIE and in the areas of building and development control in Dublin County Council. She is presently with Dublin City Council as the Senior Engineer responsible for the major OConnell Street Redevelopment Plan, and the Central Area of the City. She is also a member of the Building Regulations Advisory Body established by the Department of the Environment and Local Government.
Minister Brennan said that he had previously appointed Mr. John Sharman to the Board.
An international businessman specialising in the provision of finance in the aviation sector, including aircraft, airports and airport services. After an early career in Rolls-Royce, First National Finance Corporation in London and United Overseas Bank Group in Singapore, in the early 1980s he spent some years developing financing resources for the expanding Guinness Peat Aviation, one of the worlds largest aircraft leasing companies, based in Shannon. In the mid 1980s, when finance for the aviation sector was a rapidly growing market, he became, in partnership with the Mitsubishi Group and four other bankers, a founding shareholder and Director of Spectrum Capital Ltd. Since 1985 he has been Executive Director of the company, based in London and responsible for the Companys business outside the Americas. The Company has sourced or funded more than $20 billion for non-US carriers in loan, leasing and debentures. Clients have included British Airways, Monarch, Britannia, Virgin Atlantic, Ryanair, Air Mauritius, Southwest Airlines, American Airlines and British Midland.
Note for News Editor
Photographs of the appointees to the Aer Lingus Board are being supplied as attachments to this Press release.
Image 1 is a picture of Anne Mills
Image 2 is a picture of Brian Dunne
Image 3 is a picture of Sean Fitzpatrick
Image 4 is a picture of John Sharman
Tom Rowley (01) 6041089 087 8124723
Veronica Scanlan (01) 6041087 087 6430622