Aer Arann
Join Date: Apr 2007
Location: Isle Of Man
Age: 40
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shurely this is all a bit of a financial con to walk away from the debts and hey presto Newco will buy it out next week for 1Euro leaving all the debts and bad leases behind. 
What a shok when all the ATR72 Aer Lingus Regional routes emerge OK but all us handlers airports and fuel suppliers lose a lot of money to another bad debt.
What a shok when all the ATR72 Aer Lingus Regional routes emerge OK but all us handlers airports and fuel suppliers lose a lot of money to another bad debt.
Join Date: Feb 2006
Location: dublin
Age: 56
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Who under the current climate is going to touch a peripheral european regional airline and pour money into it. Please dear god not another AIB, just let it die quickly and without pain and let it re-emerge, fitter and stronger and ready to battle again.
Yes its hard on all concerned but throwing good money after bad long term helps no one, short term maybe but its the future that needs to be looked at.
One thing is a certain ANY investor will want costs cut, contracts re examined, routs looked at. The cold hard facts are that if they are to continue it wont be the same size as it is at the moment.
Sorry and all that for the staff and hanndling agents etc but im sure the vultures are already picking at the bones and looking to see how they could pick up the odd route or three, Manx2, Eastern Airways, Flymaybe,CityFlyer,Easyjet etc etc etc.
Yes its hard on all concerned but throwing good money after bad long term helps no one, short term maybe but its the future that needs to be looked at.
One thing is a certain ANY investor will want costs cut, contracts re examined, routs looked at. The cold hard facts are that if they are to continue it wont be the same size as it is at the moment.
Sorry and all that for the staff and hanndling agents etc but im sure the vultures are already picking at the bones and looking to see how they could pick up the odd route or three, Manx2, Eastern Airways, Flymaybe,CityFlyer,Easyjet etc etc etc.
Join Date: May 2008
Location: Altrincham
Age: 58
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Aer Arran in Bankruptcy Protection
Aer Arran in bankruptcy prote+ction.
The airline said the ash cloud had added to its problems
The Irish regional airline, Aer Arran, has entered a bankruptcy protection process after suffering losses of 18m euros since 2008.
The High Court in Dublin has appointed an interim examiner to the airline.
Continue reading the main story
That is a process of Irish company law which protects a firm from its creditors while it comes up with a restructuring plan.
The company, which employs 320 people, said the move would not affect day-to-day business.
Aer Arann added that there would be no impact on customer travel or bookings.
Volcanic ash.
The decision of the company's board to apply for examinership followed two years of loss-making trading.
It said the airline had been on budget for this year, but was badly affected by the disruption caused by volcanic ash from Iceland.
The airline lost around 6m euros in both 2008 and 2009. Losses of 6m euros have been incurred so far this year.
Aer Arran flies from City of Derry airport to Dublin and Sligo.
A service between Belfast City and Cork was suspended in July.
Meanwhile the High Court in Dublin has also appointed an examiner to McInerney Homes, one of Ireland's best-known house builders.
The move was sought by its parent company McInerney Holdings, which is trying to restructure its debts and find new investment for the group.
McInerney's UK and Spanish divisions, as well as its commercial arm Hillview Developments, are not affected by the court move.
The airline said the ash cloud had added to its problems The Irish regional airline, Aer Arran, has entered a bankruptcy protection process after suffering losses of 18m euros since 2008.
The High Court in Dublin has appointed an interim examiner to the airline.
Continue reading the main story
That is a process of Irish company law which protects a firm from its creditors while it comes up with a restructuring plan.
The company, which employs 320 people, said the move would not affect day-to-day business.
Aer Arann added that there would be no impact on customer travel or bookings.
Volcanic ash.
The decision of the company's board to apply for examinership followed two years of loss-making trading.
It said the airline had been on budget for this year, but was badly affected by the disruption caused by volcanic ash from Iceland.
The airline lost around 6m euros in both 2008 and 2009. Losses of 6m euros have been incurred so far this year.
Aer Arran flies from City of Derry airport to Dublin and Sligo.
A service between Belfast City and Cork was suspended in July.
Meanwhile the High Court in Dublin has also appointed an examiner to McInerney Homes, one of Ireland's best-known house builders.
The move was sought by its parent company McInerney Holdings, which is trying to restructure its debts and find new investment for the group.
McInerney's UK and Spanish divisions, as well as its commercial arm Hillview Developments, are not affected by the court move.
Join Date: Jun 2010
Location: Dublin
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Aer Arann believed to owe DAA €2m in fees
Join Date: Jan 2009
Location: Somewhere sunny
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A great company but can they really survive with losses of 18 million ?? Small amount for a large carrier but for a regional turboprop operator these losses are substantial without investment.....only time will tell
Join Date: May 1999
Location: Ireland
Age: 50
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Read Fueled by Belief
Cityjet are holding their own. Remember when it was Pay Byrne and the gang. They did their best to keep it all together!
With any luck RE will find a strong partner and the entrepreneurial spirit which is RE will continue.
Shamrogue
With any luck RE will find a strong partner and the entrepreneurial spirit which is RE will continue.
Shamrogue
Join Date: Nov 2006
Location: Northern Ireland
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Read Fueled by Belief
Cityjet are holding their own. Remember when it was Pay Byrne and the gang. They did their best to keep it all together!
With any luck RE will find a strong partner and the entrepreneurial spirit which is RE will continue.
Cityjet are holding their own. Remember when it was Pay Byrne and the gang. They did their best to keep it all together!
With any luck RE will find a strong partner and the entrepreneurial spirit which is RE will continue.
The same would be the case for RE being integrated into a bigger carrier, eg Aer Lingus most of the admin and management can pass to EI and elimate alot of cost.
Another point that was especially interesting from this book, was the Franchise Fee that Cityjet had to pay Virgin Atlantic on exit. I wonder is such a fee in the deal with EI?
EI-BUD
Join Date: Oct 2009
Location: UK
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Just my point of view, I really doubt EI would buy RE as there making lossess them selves, I hope a private invester comes along and buys the company, continues the Franchise and turns it to profit.
Join Date: May 2005
Location: UK
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Here's an interesting and detailed report about the state of Aer Arann's finances (obviously this is the interpretation of a journalist, so treat with some caution) :
Aer Arann to leave e32m losses if examinership fails | The Post
And a possible ray of hope:
Syndicate investment could keep Aer Arann flying | The Post
Aer Arann to leave e32m losses if examinership fails | The Post
And a possible ray of hope:
Syndicate investment could keep Aer Arann flying | The Post
Join Date: Nov 2006
Location: Northern Ireland
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Belfast City RE302 12:30 landed 12:12
Join Date: Jan 2004
Location: Belfast, Ireland
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It's a pity Aer Arann didn't keep the Cork-Belfast route going and perhaps base an aircraft at Belfast City airport and take up some of the routes Ryanair are coming off from the end of October. Maybe the new investors will look at this opportunity with Aer Arann management.
Join Date: Apr 2007
Location: Isle Of Man
Age: 40
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if BHD ORK lost money before Ryanair's pull out from BHD why should BHD ORK suddenly be profitable afterwards? O Leary wasnt operating any domestic Irish flights from BHD so nothings changed surely?
Join Date: Jan 2004
Location: Belfast, Ireland
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Cork-Belfast was one of Aer Arann's best routes ex-Cork. The aircraft used to operate this route also operated on the Cork-Dublin route where Ryanair beat them hands down. Aer Arann terminated the route on August 31st on returning the aircraft to the lessor. Ryanair thankfully are still offering 7 euro fares on the Cork-Dublin route..long may it continue
I don't know the answer myself, but can the Irish market really support 3 airlines throughout the economic cycle ? Sure during the good times, all airlines will likely make money, but when times are tough (e.g. sluggish economy combined with ash from volcano), are fares in a country of 4.5 million people high enough to keep 3 independent Irish airlines with substantial operations reasonably healthy ?
Yes, competition is good for both the consumer and the industry as a whole, but airlines also need to be able to make a steady profit every year to ensure their long term survival and stability of the industry
Yes, competition is good for both the consumer and the industry as a whole, but airlines also need to be able to make a steady profit every year to ensure their long term survival and stability of the industry
Join Date: Jan 2010
Location: Ireland
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Originally Posted by davidjohnson6
I don't know the answer myself, but can the Irish market really support 3 airlines throughout the economic cycle ? Sure during the good times, all airlines will likely make money, but when times are tough (e.g. sluggish economy combined with ash from volcano), are fares in a country of 4.5 million people high enough to keep 3 independent Irish airlines with substantial operations reasonably healthy ?
Yes, competition is good for both the consumer and the industry as a whole, but airlines also need to be able to make a steady profit every year to ensure their long term survival and stability of the industry
Yes, competition is good for both the consumer and the industry as a whole, but airlines also need to be able to make a steady profit every year to ensure their long term survival and stability of the industry
So I think its fair to say there is a market for Aer Arann because they serve a mainly niche market, which would otherwise be unserved by the other 2 main airlines.
Join Date: Apr 2004
Location: Ireland
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Unwise to go head to head with Ryanair on Cork Dublin since 2005. They're also competing with them on Cork La Rochelle this Summer. To put this in perspective there is only one carrier serving La Rochelle from the entire London area.
Join Date: Jul 2006
Location: Cork, Ireland
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They're also competing with them on Cork La Rochelle this Summer. To put this in perspective there is only one carrier serving La Rochelle from the entire London area.