Hate to be the cynic in the room but even though the franchise has been extended to 2022, Aer Lingus will have the option to end it any time they want, with due notice given to Aer Arann obviously. As Lufthansa showed in Germany recently, what may have worked at one point won't always be the case and several regional airlines in Germany have gone into liquidation as a result of Lufthansa's decision to end it's franchising contracts. And in the years to come there's every chance that Aer Arann could find itself in the high court again applying for an examiner to be appointed because Aer Lingus decided to end it's franchise because of a change in it's business model.
So while it's great to see the airline expanding after coming so close to collapse, it shouldn't get complacent about the risks posed by relying entirely on a franchisor for it's business.