ANONYMOUS INVESTOR TO RESCUE AER ARANN

According to development in the high court, an anonymous investor is preparing to take a stake in Aer Arann but only if the scheme designed to ensure the airline’s survival is approved. Some €3.5 million from UK transport company Stobart and Galway businessman Pádraig Ó Céidigh, the airline’s owner, and others will be invested in the company. The new investor has stated it will be prepared to acquire an equity stake in the airline but only if the creditor agreement is approved. The judge had been seeking greater clarification on how the airline was planning to survive as a going