Saturday 21 October 2017

Aer Lingus proving big draw in Boston

Stephen Kavanagh
Stephen Kavanagh
Aer Lingus
Warren Buffett. Photo: Reuters/Mario Anzuoni.

Aer Lingus is becoming the dominant transatlantic airline operating out of Boston, according to chief executive Stephen Kavanagh.

"For a US consumer in Boston, Aer Lingus is fast becoming the hometown airline for European travel," he said. "We offer more connectivity through Dublin than US carriers can offer from Boston." Aer Lingus has boosted its transatlantic capacity by 13pc this year.

Buffett serves up more wisdom at AGM

Legendary investor Warren Buffett said Berkshire Hathaway should look beyond stock pickers when selecting its next chief executive officer.

A CEO should have "a significant array of skills," Mr Buffett (84), said at the weekend at Saturday Berkshire's annual meeting in Omaha, Nebraska. About 40,000 people are estimated to have attended the gathering, with the company celebrating its 50th birthday.

The billionaire said he's unlikely to support someone whose only expertise is in investing, but could accept a candidate who also had operational experience. There's been speculation for years about who'll replace Mr Buffett.

DAA posts €3.5m gain on property exit

The Dublin Airport Authority (DAA) has recorded a €3.5m gain after extracting itself from a joint property venture undertaken during the boom with investors including developer Bernard McNamara.

Accounts for the DAA reveal that it sold its 37.5pc shareholding in Brooklyn Properties - which developed a business park at Cork Airport - last year for €3.7m.

It's understood that the venture was sold to an international buyer.

The DAA had also been involved in a scheme in Dublin with developer Liam Carroll using a company called Turckton, which it exited in 2012.

Irish Independent

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