Good news could be imminent for struggling airline Aer Arann.
It’s thought the Irish company, which operates routes from Ronaldsway to Dublin and London City, could come out of examinership, an alternative to liquidation, by the middle of next week.
Aer Arann's prospect of survival has been under threat as it tries to turn around a 13 million Euros deficit, after being hit by the global economic downturn and disruption caused by the Icelandic ash cloud.
The expected approval of a Scheme of Arrangement would safeguard all 320 Aer Arann jobs and more than 200 indirect jobs in regional airports.
Crucially for the Isle of Man, it would also ensure the service to London City, a key route for the capital, could continue.
Dublin's High Court will be asked to set aside next Wednesday, November 10, as the ‘effective date’ for the airline to return to normal trading, with more than six million Euros being invested.
The airline's chief executive Paul Schutz believes the news means Aer Arann is very well positioned for the future.
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