Monday 27 March 2017

New suitor willing to invest in Aer Arann

A NEW investor is prepared to take a stake in Aer Arann if the scheme designed to ensure the airline's survival is approved, the High Court heard yesterday.

No details concerning the proposed investment, nor the identity of the new investor, were revealed.

Last week, Ms Justice Mary Finlay Geoghegan expressed "serious concerns" about the initial survival proposals.

In light of the proposed new investment, the judge adjourned consideration of the survival scheme to tomorrow.

Aer Arann's creditors are owed more than €29m, of which €5.2m is owed to AIB.

Irish Independent

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