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06/04/2009
Mannion Quits Aer Lingus For 'New Ideas'
Aer Lingus Chief Executive Officer (CEO) Dermot Mannion has handed in his resignation with immediate effect this morning.
The airline's Chairman, Colm Barrington, is to step in until a successor is appointed.
The resignation of Mr Mannion who joined the airline in 2005, has come as a major surprise after he weathered several stormy incidents and has recently enjoyed a period of relative calm.
In a statement issued this morning Mr Mannion said: "My decision to step down will allow a new CEO to bring fresh thinking and new ideas to the business."
The troubled airline made a loss of almost €120m in 2008, and is facing another loss this year.
The company has said the search for a new chief executive has already begun.
During his tenure, Mr Mannion helped the airline avoid State ownership and fended off two hostile take-over bids from Ryanair.
The economic downturn hit the airline badly, and to a number of very unpopular decisions over its ay and conditions, provoking strikes and demonstrations.
Among the internal favourites to succeed Mr Mannion are current Deputy Chief Niall Walsh and finance boss, Sean Coyle, who recently joined the airline from Ryanair.
(DW/BMcC)
The airline's Chairman, Colm Barrington, is to step in until a successor is appointed.
The resignation of Mr Mannion who joined the airline in 2005, has come as a major surprise after he weathered several stormy incidents and has recently enjoyed a period of relative calm.
In a statement issued this morning Mr Mannion said: "My decision to step down will allow a new CEO to bring fresh thinking and new ideas to the business."
The troubled airline made a loss of almost €120m in 2008, and is facing another loss this year.
The company has said the search for a new chief executive has already begun.
During his tenure, Mr Mannion helped the airline avoid State ownership and fended off two hostile take-over bids from Ryanair.
The economic downturn hit the airline badly, and to a number of very unpopular decisions over its ay and conditions, provoking strikes and demonstrations.
Among the internal favourites to succeed Mr Mannion are current Deputy Chief Niall Walsh and finance boss, Sean Coyle, who recently joined the airline from Ryanair.
(DW/BMcC)
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