Irish PM criticises Aer Lingus trio
Aer Lingus’ departing executives have been strongly criticised by Irish Prime Minister Bertie Ahern, who accused them of trying to get rich at the expense of their employees. Chief executive Willie Walsh, chief operations officer Seamus Kearney and chief financial offices Brian Dunne have resigned without giving a reason. They will leave in May. The management team have been credited with the spectacular revival in the airline’s fortunes. Aer Lingus lost around Euros 140 million in 2001, but in the full year to March this year made Euros 83 million. But the trio are thought to be unhappy that Ahern opposed their plans for a management buyout of the airline. Following their departure, Ahern said that from his discussions with union leaders, they were concerned that the management wanted to sell out to make themselves very rich. “I don’t think the MBO was good for the health of Aer Lingus,” he said. Ahern said employees also resented the management taking full credit for the revival of the airline’s fortunes since 9/11. Walsh’s restructure of the airline was based on the Ryanair model. Fares and costs were slashed and new destinations to Europe introduced.
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