Aer Lingus management is continuing talks about a new long-haul fleet deal with aircraft manufacturers Airbus and Boeing despite their recent decision to leave the company some time before May.

The airline's board meanwhile is expected to meet on Monday to discuss the departure of Mr Willie Walsh, chief executive; Mr Brian Dunne, chief financial officer; and chief operations officer, Mr Seamus Kearney. A sub-committee is likely to be set up to select Mr Walsh's successor.

The departing management team have assured Boeing and Airbus that despite the recent announcement it is important to continue talks on the long-haul fleet.

While the Government is still pondering whether to allow private sector investment in the airline, local management believes it should remain in contact with the two manufacturers.

Local management will take the talks "as far as they can go", said sources, before handing over to the incoming chief executive.

The talks are relatively advanced, with Aer Lingus seriously considering the new Boeing 7E7 aircraft. However Airbus said this week it was preparing to launch a rival to the 7E7, known as the A350.

Aer Lingus will want to examine this new aircraft in detail, consequently the negotiations are likely to take longer than originally planned. The total value of any long-haul deal is likely to be about $1.2 billion for about 11 or 12 aircraft. However Aer Lingus would only need between €200 and €300 million to seal the deal initially.

This week, the Minister for Transport, Mr Cullen, finally published the long-awaited Goldman Sachs report. Widely leaked, the report suggests the most feasible way for the airline to raise funds would be through a flotation.

Before any agreement is likely on private investment, the Government will be anxious to get a new management team into the airline.

According to sources, there will be one or two internal candidates interested in the chief executive's position, but most observers believe Mr Walsh's replacement will be an outsider.

The company also needs a new chairman with acting chair Mr John Sharman planning to stand down in the new year.

Mr Sean FitzPatrick, the chief executive of Anglo Irish Bank, yesterday told The Irish Times he was not interested in the post. The former chief executive of Unilever, Mr Niall FitzGerald, has already turned down the role.