Aer Arann in discussion with investors

Ahead of tomorrow's Aer Arann board meeting the airline is understood to be in discussions with a number of investors which would see upwards of €10m invested in the airline as it attempts to develop a plan to ensure it's long term survival. The airline's CEO Padraig O' Ceidigh told the Irish Times that he would relinquish a majority shareholding in the company in return for the necessary equity.

The airline has said that some seasonal and holiday routes will be discontinued for the winter whilst others would be reviewed as part of normal business practice.