"Three key moves taken in positioning Aer Lingus for growth" Cullen
Mr. Martin Cullen, T.D., Minister for Transport said today (7th August, 2005) that the formal commencement tomorrow of Dermot Mannion as the new Chief Executive of Aer Lingus is another important step in the future of the airline.
Minister Cullen met with Mr. Mannion at the end of July to welcome him to his new role and to discuss current developments at the national airline.
He said: "With the Government decision on funding, the appointment of Advisors to advise on and execute the transaction and now Dermot Mannion taking up office as CEO, three key moves have been taken to position Aer Lingus for growth.
"Mr. Mannion comes to Aer Lingus with a proven track record earned at one of the world's leading airlines. He joins Aer Lingus at a critical but exciting time in its development. I look forward to seeing the impact of his leadership at our national airline."
Commenting on Aer Lingus, the Minister said: "Significant progress has been made in recent years in turning Aer Lingus around. This is due in no small part to the efforts of the Board, management and staff of the Company. Aer Lingus operates in a volatile and ever changing environment which requires the Company to function as efficiently as possible with maximum flexibility to compete. I have no doubt that with the guidance of Dermot Mannion, working together with a committed staff, Aer Lingus can thrive and grow."
The Minister said it was important to move away from the crises plans of the past. He said: "For too long, crisis plans rather than expansion plans were the norm at our national airline. A sense of never-ending uncertainty was bad for the staff, the public and the country as a whole. We can and should now move away from actions to help in a time of crises to actions that secure sustainable growth. Achieving an appropriate cost base and the operational flexibility to support this growth will be essential."
On the appointment of financial Advisors, he said: "For me it is a case of accessing the necessary capital that will allow Aer Lingus to compete and win new routes. Aer Lingus flying to and from more destinations means the national airline can offer greater choice to consumers, open new markets for Irish tourism and grow jobs", the Minister concluded.
ENDS
Further info:
Dan Pender 01 6041089 / 087 2313415
