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Aer Lingus chief executive quits Aer Lingus chief executive quits
(10 minutes later)
The chief executive of Aer Lingus, Dermot Mannion, resigned on Monday.The chief executive of Aer Lingus, Dermot Mannion, resigned on Monday.
The airline's chairman, Colm Barrington, will take over Mr Mannion's role until a successor is appointed.The airline's chairman, Colm Barrington, will take over Mr Mannion's role until a successor is appointed.
The resignation came a month after the group reported a net loss of 108m euros for 2008.The resignation came a month after the group reported a net loss of 108m euros for 2008.
Mr Mannion, who took up the job in 2005, said: "My decision to step down will allow a new CEO to bring fresh thinking and new ideas to the business."Mr Mannion, who took up the job in 2005, said: "My decision to step down will allow a new CEO to bring fresh thinking and new ideas to the business."
Mr Mannion joined from from Dubai-based airline Emirates on a three year-contract in August 2005 and has been on a rolling one year contract since the autumn of last year. He joined from from Dubai-based airline Emirates on a three year-contract in August 2005 and has been on a rolling one year contract since the autumn of last year.
He has steered the airline out of state ownership, fended off two hostile take-over bids from Ryanair, developed long-haul services and controversially axed the Shannon to Heathrow service.He has steered the airline out of state ownership, fended off two hostile take-over bids from Ryanair, developed long-haul services and controversially axed the Shannon to Heathrow service.
ControversyControversy
There has been a constant focus on costs against a background of unpredictable fuel prices, strike threats, cut-throat competition and economic downturn in its key markets of Europe and the US.There has been a constant focus on costs against a background of unpredictable fuel prices, strike threats, cut-throat competition and economic downturn in its key markets of Europe and the US.
Hundreds of employees have left the airline.Hundreds of employees have left the airline.
Mr Mannion faced controversy earlier this year when it was revealed his contract had been changed to ensure him a payment of up to 2.8 m euros if Aer Lingus was taken over. Aer Lingus is expected to make a loss this year
Mr Mannion faced controversy earlier this year when it was revealed his contract had been changed to ensure him a payment of up to 2.8m euros if Aer Lingus was taken over.
The change was later scrapped.The change was later scrapped.
Chairman Colm Barrington said: "On behalf of the board and management team, I would like to thank Dermot for his significant contribution to the group over the past four years."Chairman Colm Barrington said: "On behalf of the board and management team, I would like to thank Dermot for his significant contribution to the group over the past four years."
Sources at the airline say Mr Mannion's decision to leave was amicable.Sources at the airline say Mr Mannion's decision to leave was amicable.
Among the internal favourites to succeed Mr Mannion are deputy chief executive Niall Walsh and chief finance officer, Sean Coyle, who recently joined the airline from Ryanair.Among the internal favourites to succeed Mr Mannion are deputy chief executive Niall Walsh and chief finance officer, Sean Coyle, who recently joined the airline from Ryanair.