New routes take off at Aer Arann
Aer Arann yesterday confirmed a number of new and reinstated routes. Kerry airport is to see a Manchester service return from May. The airline will also fly from Derry to Edinburgh and Manchester. Its Donegal-Scotland route will serve Glasgow airport instead of Prestwick.
Barina announces €1.5m pre-tax loss
Barina Construction posted a pre-tax loss of almost €1.5m in the 12 months to the end of last April, compounding a €19.5m loss recorded in the 2008 fiscal period. Turnover at the Dublin homebuilder, which has been heavily involved in developments around the capital, slumped by 30pc to €41m during the last financial year. The company, which is controlled by the Langan family, values development land on its books at €118m. Both Anglo Irish Bank and Bank of Ireland have charges over Barina's land bank.
€16m action over loan guarantees
TWO Galway businessmen are being pursued by Zurich Bank for more than €16m under personal guarantees for loans made to a construction company. The bank has brought its action against Donal O'Connor, Stradbally East, Clarinbridge, Co Galway, and Martin Roche, of Aille, Loughrea, Co Galway. The proceedings were transferred to the Commercial Court yesterday and Mr Justice Peter Kelly returned the matter to Friday.
Investec boosts stake in Woodies
Investec Asset Management has boosted its stake in Woodies DIY owner Grafton Group to just over 5pc. Grafton Group told the stock exchange yesterday that Investec now owns more than 11.65m shares in the company, compared to over 10.47m previously. Grafton Group is to release full-year figures on Thursday. Its shares were up 2.1pc yesterday at €2.45.
Businessman in €9.5m judgment
BANK of Ireland has secured summary judgment orders for more than €9.5m against Galway businessman John Sweeney under personal guarantees provided by him over unpaid loans to two of his companies, Zaralight Ltd and Black Shore Ltd, both on Headford Road, Galway. The judgment application was not opposed.