Aer Lingus resignations
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Aer Lingus resignations
Willie Walsh along with the chief operations officer Seamus Kearney and chief financial officer Brian Dunne will leave the airline in May 2005 according to rumours today
Now I wonder what they will be doing in the future?
Now I wonder what they will be doing in the future?
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From RTE news:
Three Aer Lingus executives resign
16 November 2004 15:08
RTÉ has learned that the three top executives at Aer Lingus, including chief executive Willie Walsh, have resigned from the airline.
Mr Walsh along with the chief operations officer Seamus Kearney and chief financial officer Brian Dunne will leave the airline in May.
It is understood that the Department of Transport has been notified of their decision.
Earlier, this year the three men sought permission from the Government to pursue a management buyout of the airline.
However, they subsequently announced that they were abandoning that plan.
It is unclear as yet what the three executives will do after leaving Aer Lingus.
Three Aer Lingus executives resign
16 November 2004 15:08
RTÉ has learned that the three top executives at Aer Lingus, including chief executive Willie Walsh, have resigned from the airline.
Mr Walsh along with the chief operations officer Seamus Kearney and chief financial officer Brian Dunne will leave the airline in May.
It is understood that the Department of Transport has been notified of their decision.
Earlier, this year the three men sought permission from the Government to pursue a management buyout of the airline.
However, they subsequently announced that they were abandoning that plan.
It is unclear as yet what the three executives will do after leaving Aer Lingus.
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The Plot thickens!!
Its all very intriguing !! will it be a Ryanair look alike except across the Atlantic,
or The Transatlantic Costings done by Aer Arran! will the 3 boys join up and merge their successful management skills with Aer Arann and expand its network across the Atlantic.
Its wait and see ??
Willie Walsh is a very talented Chief Executive he has been stymied by Governemnt and Unions so whats the point when he can start again and make a bigger success of a new venture without extra hassel.
Regards,
Cliste
or The Transatlantic Costings done by Aer Arran! will the 3 boys join up and merge their successful management skills with Aer Arann and expand its network across the Atlantic.
Its wait and see ??
Willie Walsh is a very talented Chief Executive he has been stymied by Governemnt and Unions so whats the point when he can start again and make a bigger success of a new venture without extra hassel.
Regards,
Cliste
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My money is on a new low cost carrier......
.....airlines like TAM in Brazil are modelling what Fungus wanted to be and they seem to be doing quite well!!
.....airlines like TAM in Brazil are modelling what Fungus wanted to be and they seem to be doing quite well!!
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This is very bad news; it must be a reaction to the incapability, lack of interest and lack of vision on the part of the govt to EI's future and growth.
EI has shown the road ahead to many airlines, so it's a shock to see them leave. What now? Who will WANT to take over, in the knowledge that the govt will obstruct, obfuscate and frustrate their plans. It's a very bad day for EI. And what of floatation; that must surely be off the agenda now for some time; the continual delaying of a decision on this, leading to the delay in the fleet planning for long haul may well have been the key reason. I sincerely hope WW and his team will say in no uncertain terms what led them to make this decision.
EI has shown the road ahead to many airlines, so it's a shock to see them leave. What now? Who will WANT to take over, in the knowledge that the govt will obstruct, obfuscate and frustrate their plans. It's a very bad day for EI. And what of floatation; that must surely be off the agenda now for some time; the continual delaying of a decision on this, leading to the delay in the fleet planning for long haul may well have been the key reason. I sincerely hope WW and his team will say in no uncertain terms what led them to make this decision.
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Well done to Willie Walsh and his management team. Its a 2 fingers to the Irish Government for procrastination on aviation issues!!!
It will be a big job to fill his shoes at EI. Best of luck to Aer Lingus and also to Willie Walsh on any new aviation venture that he will be involved in!
It will be a big job to fill his shoes at EI. Best of luck to Aer Lingus and also to Willie Walsh on any new aviation venture that he will be involved in!
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Hasn't the current management 'team' presided over the most destructive a fractious period in Lingus history. They failed to catch the low cost boat, failed to grasp the opportunity of Sept 11th and have now bungled the whole move out of the public sector (rumoured).
The Irish tax payer deserves top whack from the sale of Lingus. The machinations of management would have seen them derive very handsome gratuities from a privatisation. This would be contrary to the tax payers interest.
They (three) are now free to demand and earn the remuneration that the free market deems them worth. Good luck to them, i dooo sooo hope they are able to find something well above average earnings.
As for Lingus trying to do a small amount of stand alone long haul and a small amount of low cost shorthaul. Well, you'd never write that business plan if you started with a blank sheet of paper.
The Irish tax payer deserves top whack from the sale of Lingus. The machinations of management would have seen them derive very handsome gratuities from a privatisation. This would be contrary to the tax payers interest.
They (three) are now free to demand and earn the remuneration that the free market deems them worth. Good luck to them, i dooo sooo hope they are able to find something well above average earnings.
As for Lingus trying to do a small amount of stand alone long haul and a small amount of low cost shorthaul. Well, you'd never write that business plan if you started with a blank sheet of paper.
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All the good work achieved by the staff and company over the last few years may easily slide away over the coming months with the bootboy unions jumping in to make themselves look important.
Not to mention the gutlessness of that self styled socialist Aherne and the other politico gougers of north County Dublin sitting on their arses and twiddling their thumbs busy doing nothing. You would easily know they were all colleagues of ex-TD Ray Burke.
In a way it is okay for Dublin as there is plenty of competition to chose from if EI starts getting lardy again and increasing fares. Not so good for places more dependant like Cork.
Not to mention the gutlessness of that self styled socialist Aherne and the other politico gougers of north County Dublin sitting on their arses and twiddling their thumbs busy doing nothing. You would easily know they were all colleagues of ex-TD Ray Burke.
In a way it is okay for Dublin as there is plenty of competition to chose from if EI starts getting lardy again and increasing fares. Not so good for places more dependant like Cork.
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Is this a surprise? We all knew WW wanted an MBO that would make him and his upper management colleagues rich while screwing the 146 pilots etc.
He gambled the govt would go along, they didn't, he's leaving and will no doubt get a very good settlement when most of us would get nothing if we resigned.
The government in seeking a successor must answer the following:
Is the future of EI in govt or private hands?
Is the future direction of EI to be a fullservice interlining carrier or not?
The government should state these in the public record, appoint people who will stick to the plan and thus the govt will carry the can if it fails.
Of course, this won't happen, the govt will fudge it as always.
He gambled the govt would go along, they didn't, he's leaving and will no doubt get a very good settlement when most of us would get nothing if we resigned.
The government in seeking a successor must answer the following:
Is the future of EI in govt or private hands?
Is the future direction of EI to be a fullservice interlining carrier or not?
The government should state these in the public record, appoint people who will stick to the plan and thus the govt will carry the can if it fails.
Of course, this won't happen, the govt will fudge it as always.
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The MGT team is leaving, allegedly, next MAY. This is not "take your job and shuv it" This is SIX MONTHS NOTICE to bully the government into accepting the "management buyout proposal" or else be faced with Willies gang in "opposition", or the threat thereof..
Why this theory? By attacking, attacking and attacking again they have achieved many of their goals with staff, but not all. They will try everything to win. This is exactly what I would expect from WW and his crew.
That said, it might work for them. Time will tell.
Why this theory? By attacking, attacking and attacking again they have achieved many of their goals with staff, but not all. They will try everything to win. This is exactly what I would expect from WW and his crew.
That said, it might work for them. Time will tell.
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Let's see if I got this right.
1. Bad gambling.
2. Good staff (but why?) and company (but more why?).
3. Bad unions.
4. Bad socialist (oh yea?) leader of nation.
5. Bad government.
6. Bad short haul : long haul division
7. Bad for Cork (but, I must ask, would that necessarily be "bad"?)
8. Bad grasping of opportunities.
9. But wonderful for our hero the young WW, who, having done so much for everybody and made not a single mistake has - for some silly reason - been ... well ... kinda outmanoeuvred by "the most cunning, the most devious of them all".
10. With apologies to the supporters club.
1. Bad gambling.
2. Good staff (but why?) and company (but more why?).
3. Bad unions.
4. Bad socialist (oh yea?) leader of nation.
5. Bad government.
6. Bad short haul : long haul division
7. Bad for Cork (but, I must ask, would that necessarily be "bad"?)
8. Bad grasping of opportunities.
9. But wonderful for our hero the young WW, who, having done so much for everybody and made not a single mistake has - for some silly reason - been ... well ... kinda outmanoeuvred by "the most cunning, the most devious of them all".
10. With apologies to the supporters club.
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The last heroic captain of industry to rescue a semi-state company from itself by taking it private was Sir Anthony O'Reilly. We used to have one of the most advanced telecoms networks in the world. Now it's hard to get a basic broadband service.
I can't believe how naive some of the people posting here are if they think an MBO would have been to the benefit of their beloved airline/insustry/hobby!
WW and his team have done an excellent job. That doesn't give them a right to do what they like.
The totally simplistic view that private is always better than public gets on my nerves sometimes.
Remember that it is a state owned Aer Lingus that is one of the most successful airlines flying today.
Declaration of interest: I'm a semi-state employee (non-aviation)
I can't believe how naive some of the people posting here are if they think an MBO would have been to the benefit of their beloved airline/insustry/hobby!
WW and his team have done an excellent job. That doesn't give them a right to do what they like.
The totally simplistic view that private is always better than public gets on my nerves sometimes.
Remember that it is a state owned Aer Lingus that is one of the most successful airlines flying today.
Declaration of interest: I'm a semi-state employee (non-aviation)
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Mixed feelings about this myself.
He was ruthless in carrying out some of the more obvious moves that had to be made to bring the company back to profitability. There was no rocket science involved (to quote O'Leary) but somehow Willy fooled a lot of people into thinking that only HE could have done it. I'm often amazed at the naiivete of some of my fellow airline professionals!
Having been given carte blanche by the events of 9-11 to carry out the basic surgery required, he soon ran out of ideas when some vision was required. This has always been a trait of Semi-State Aer Lingus management (of which Willy is a product).
Success could have generated tremendous goodwill among the Staff, but Willy has always suffered from poor people skills and didn't know how to tap into it, or when to drop the ice cold facade he turns to the world to protect his fragile ego. Just ask any of the people in upper management - if you know them well enough they'll confide that he's an extremely disliked man even at their level.
Rather than motivation by encouragement or reward - both marks of good leadership - Willy style is one of antagonism and division.
He will not be missed on a personal level.
On the other hand, his myth is such that his departure will indeed colour the opinions of the money men who might have backed his management team and invested in Aer Lingus. Its now up to the government to stop dragging their heels and come up with the money...or a plan to get it.
I'm not hopeful.
There is one more aspect to this which I'm not happy with.
He has 'resigned' but remains in place until May?
This may indeed be another turn of the screw to force a decision by the government on fleet expansion monies.
But if they have accepted his resignation, and it really IS final, I think its untenable that he remains in his job for 6 months.
The rumours are already doing the rounds that he is getting involved in another project which will compete with Aer Lingus.
At the very least we can expect to see him join a competitor.
Meanwhile he has his hands in the till and in the machinery of ALT.
This is a clear conflict of interest!
He already got away with that once (the failed MBO suggestion) and now he's at it again?
I think he should GO NOW.
As General De Gaulle once said 'The graveyards are full of indespensible men'.
He was ruthless in carrying out some of the more obvious moves that had to be made to bring the company back to profitability. There was no rocket science involved (to quote O'Leary) but somehow Willy fooled a lot of people into thinking that only HE could have done it. I'm often amazed at the naiivete of some of my fellow airline professionals!
Having been given carte blanche by the events of 9-11 to carry out the basic surgery required, he soon ran out of ideas when some vision was required. This has always been a trait of Semi-State Aer Lingus management (of which Willy is a product).
Success could have generated tremendous goodwill among the Staff, but Willy has always suffered from poor people skills and didn't know how to tap into it, or when to drop the ice cold facade he turns to the world to protect his fragile ego. Just ask any of the people in upper management - if you know them well enough they'll confide that he's an extremely disliked man even at their level.
Rather than motivation by encouragement or reward - both marks of good leadership - Willy style is one of antagonism and division.
He will not be missed on a personal level.
On the other hand, his myth is such that his departure will indeed colour the opinions of the money men who might have backed his management team and invested in Aer Lingus. Its now up to the government to stop dragging their heels and come up with the money...or a plan to get it.
I'm not hopeful.
There is one more aspect to this which I'm not happy with.
He has 'resigned' but remains in place until May?
This may indeed be another turn of the screw to force a decision by the government on fleet expansion monies.
But if they have accepted his resignation, and it really IS final, I think its untenable that he remains in his job for 6 months.
The rumours are already doing the rounds that he is getting involved in another project which will compete with Aer Lingus.
At the very least we can expect to see him join a competitor.
Meanwhile he has his hands in the till and in the machinery of ALT.
This is a clear conflict of interest!
He already got away with that once (the failed MBO suggestion) and now he's at it again?
I think he should GO NOW.
As General De Gaulle once said 'The graveyards are full of indespensible men'.
Last edited by Idunno; 16th Nov 2004 at 23:39.
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Hand me the bailer!
Bertie WILL NOT put one cent into Aer Lingus before the next election.
People are lying on trolleys in hospital corridors, afraid to go piss because the punter on the chair next to them will take just their pillow, if they're lucky; he'd be slaughtered in the media in the short term, and the polls in the longer term; invest money in a "hugely profitable airline"(in the public's perception) for fleet expansion when the voters have family suffering for medical assistance in a thriving economy? Nope, expect waffle, stall, and the usual manááána from the primary shareholder. Willie and the lads will set up a low cost long haul non union outfit, Aer Lingus will regress slowly to its previous torpor, roll over and sink at the next downturn.
People are lying on trolleys in hospital corridors, afraid to go piss because the punter on the chair next to them will take just their pillow, if they're lucky; he'd be slaughtered in the media in the short term, and the polls in the longer term; invest money in a "hugely profitable airline"(in the public's perception) for fleet expansion when the voters have family suffering for medical assistance in a thriving economy? Nope, expect waffle, stall, and the usual manááána from the primary shareholder. Willie and the lads will set up a low cost long haul non union outfit, Aer Lingus will regress slowly to its previous torpor, roll over and sink at the next downturn.
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Bertie doesn't HAVE to put one cent into Aer Lingus; the airline's message to management was plain: either get outside investment or put money in. They knew the govt wouldn't put money in and it should be clear to most by now that the MBO proposal was just a stalking horse, a means to prod the govt into a decision.
Once it became clear that this decision and the cabinet cttee's deliberations were being put on the long finger, the request came to invest in the company. All along, this has been consistent: Aer Lingus can't just be left swinging in the wind, which is exactly what the govt wants to do. Unfortunately, EI wants some much more difficult (for Ahern) than money: a decision.
As for his tenure; six months is normal at this level and as for going into a competing airline, that's not necessarily so. There's lots of airlines outside Europe too!
Listen, all the government needs to do is make a decision: set out what it wants to do with Aer Lingus. In this day and age, a large state owned organisation can't just be left like this. It's not in anyone's interest for this paralysis to continue and the CEO's message all along has been: either invest yourselves or let someone else invest. Bertie seems to have said no to both (or in Bertie speak, not made a decision), so in frustration, the executive team have no other choice but to leave.
I personally hope this situation can be rescued, not least because if they do leave, who would actually want to take the job on, in the knowledge that they will be obstructed by political issues beyond their control. And, furthermore, what do you think investors' reactions will be? I think this has damaged the airline's attractiveness to investors considerably. Still no decision, still the stopover, still GETTING IN THE WAY.
Once it became clear that this decision and the cabinet cttee's deliberations were being put on the long finger, the request came to invest in the company. All along, this has been consistent: Aer Lingus can't just be left swinging in the wind, which is exactly what the govt wants to do. Unfortunately, EI wants some much more difficult (for Ahern) than money: a decision.
As for his tenure; six months is normal at this level and as for going into a competing airline, that's not necessarily so. There's lots of airlines outside Europe too!
Listen, all the government needs to do is make a decision: set out what it wants to do with Aer Lingus. In this day and age, a large state owned organisation can't just be left like this. It's not in anyone's interest for this paralysis to continue and the CEO's message all along has been: either invest yourselves or let someone else invest. Bertie seems to have said no to both (or in Bertie speak, not made a decision), so in frustration, the executive team have no other choice but to leave.
I personally hope this situation can be rescued, not least because if they do leave, who would actually want to take the job on, in the knowledge that they will be obstructed by political issues beyond their control. And, furthermore, what do you think investors' reactions will be? I think this has damaged the airline's attractiveness to investors considerably. Still no decision, still the stopover, still GETTING IN THE WAY.
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WW EI Bye Bye
I have mixed feelings about this one also. I am a former employee of the company who was let go after 9/11. I was shocked to learn of these resignations. Some people have mentioned Aer Arann as a possible landing spot for the 3 gents leaving EI, I can't see that happening.
MOL was on a popular Irish radio programme yesterday evening singing WW’s praises and condemning the Irish Government inability to make a decision on a 2nd terminal at Dublin Airport. MOL is due to speak at an Irish Tourism Seminar being held today and the only reason he is attending, according to what he said on air last night, is to call them all a bunch of wasters who dither and never get anything done. I think he is right in this regard.
WW was utterly frustrated with Bertie, who recently declared himself a socialist. Bertie is so scared of upsetting the public service unions in Ireland. All one has to do is analyse the recent cabinet reshuffle, Charlie McCreevy to Brussels and Seamus Brennan (former minister for transport who wanted a competing 2nd terminal at Dublin) demoted to Social Welfare.
As for the MBO, that was never actually proposed. WW and his 2 colleagues asked the governments permission to come up with a MBO and submit it to the Government for approval, they were told NO! Can’t blame them for leaving.
My money is on the 3 gentlemen already having plans in place for another airline commencing operations in Summer 2005. That wouldn’t surprise me at all. Anyway best of luck to EI and to Mr.Walsh, Mr Kearney and Mr.Dunne.
MOL was on a popular Irish radio programme yesterday evening singing WW’s praises and condemning the Irish Government inability to make a decision on a 2nd terminal at Dublin Airport. MOL is due to speak at an Irish Tourism Seminar being held today and the only reason he is attending, according to what he said on air last night, is to call them all a bunch of wasters who dither and never get anything done. I think he is right in this regard.
WW was utterly frustrated with Bertie, who recently declared himself a socialist. Bertie is so scared of upsetting the public service unions in Ireland. All one has to do is analyse the recent cabinet reshuffle, Charlie McCreevy to Brussels and Seamus Brennan (former minister for transport who wanted a competing 2nd terminal at Dublin) demoted to Social Welfare.
As for the MBO, that was never actually proposed. WW and his 2 colleagues asked the governments permission to come up with a MBO and submit it to the Government for approval, they were told NO! Can’t blame them for leaving.
My money is on the 3 gentlemen already having plans in place for another airline commencing operations in Summer 2005. That wouldn’t surprise me at all. Anyway best of luck to EI and to Mr.Walsh, Mr Kearney and Mr.Dunne.
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Aer Lingus needs 1000 million dollars in Capital Investment ...... the Euro interest rate is 2% and I'm sure the Irish Government could get a deal around this level ...... all the Banks seem to be doing it
so whats the problem in Bertie investing 1000 million at an annual cost of 20 million? , if he's scared of letting EI go private then get them the one Billion Euro's they need
so whats the problem in Bertie investing 1000 million at an annual cost of 20 million? , if he's scared of letting EI go private then get them the one Billion Euro's they need
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As for the MBO, that was never actually proposed. WW and his 2 colleagues asked the governments permission to come up with a MBO and submit it to the Government for approval, they were told NO!
At best you might say he was trying to push the governments decision, but intentionally left the MBO idea hanging, just in case he got the support for it he needed.
A case of running it up the flag pole and see who salutes!
Mary O'Rourke was highly enthusiastic for it...and Seamus Brennan said he wouldn't rule it out (even though you claim Willy never ruled it IN).