How small is quite small? How much do they owe Reynoldsway? Seems its €2m to DAA and €4m to the bank for a start. We all like to see banks get shafted, just not us airports and handlers. Irish times reports...
AER ARANN is believed to owe the Dublin Airport Authority (DAA) just under €2 million in aeronautical fees relating to its activities at Dublin, Cork and Shannon.
This makes the DAA the second biggest creditor behind AIB, which is owed €3.9 million.
Aer Arann, which is owned by Galway businessman Pádraig Ó Céidigh, entered interim examinership late on Thursday as it tries to restructure the business and to secure additional investment. The airline has accumulated losses of €18 million since the start of 2008.
A full hearing has been been pencilled in for September 8th.
Informed sources told The Irish Times the airline’s decision to enter examinership was related to pending cashflow difficulties now that the busy summer booking season has ended, rather that pressure from a particular creditor.