Aer Rianta begins its search today for a new chief executive to replace Mr Derek Keogh who is retiring at the end of the year. However, it is unclear what remuneration package is on offer.

The state-sponsored body, which is charged with running the State's airports, could face similar problems to the ESB. It offered its new chief executive, Mr Ken O'Hara, a package which was rejected by the Government.

Following protracted negotiations, and deliberations by the ESB board, Mr O'Hara accepted a lower wage.

Under the Gleeson guidelines, the post currently carries a salary of approximately £70,200. The package includes a car and some other benefits. Under the Buckley recommendations the package would be considerably enhanced and the candidate would be on a five-year contract.

An advertisement in today's edition of Business This Week only states that the remuneration package "will reflect the board's determination to select an individual of the highest calibre".

The successful candidate will take up duties on January 1st next. Industry sources said last night that it may be necessary to offer a higher salary than can currently be offered, if the board wants to attract a candidate from outside the organisation.

The pay issue may not arise as it is strongly rumoured that the Government will implement the Buckley recommendations as part of an overall package of measures in the next Budget, which will be introduced on December 3rd.

Meanwhile Aer Rianta has said that it will look once again at airport acquisitions in Australia, following the decision of the Australian government to put 15 regional and international airports up for sale.

"We're not involved as of now and we will probably take a look," an Aer Rianta spokesman said.