Resignations that carry six month stays of execution can easily be confused with an ultimatum. But it appears that Aer Lingus chief executive Mr Willie Walsh and his two colleagues, chief financial officer Mr Brian Dunne and chief operations officer Mr Séamus Kearney, really want out.
They may be prepared to remain on for three months longer than the notice period stipulated in their contracts, but this should not be interpreted as gamesmanship, say sources close to the trio.
Even allowing for an element of "they would say that wouldn't they", the argument that they are trying to force the Government's hand on the ownership of the national airline does not really stack up. Not least because the last time the three men attempted something along such lines they were less than successful.
Their request last June to be allowed put together an investment proposal for Aer Lingus was rebuffed and, although it led to a Cabinet level review of strategic options for the airline, no decision has yet been taken on the subject.
The three subsequently withdrew their proposal, which had by that stage been characterised - unfairly, some would say - as a management buyout.
The lack of any subsequent decision on the future strategic direction of the airline has undoubtedly been a source of frustration for the three men, who have spent the past three years turning around the troubled national carrier and repositioning it a notch above the likes of Ryanair.
The review of options that was carried out for the Government by Goldman Sachs following the executives' initiative has been gathering dust in the Department of Transport for the past six weeks, while the Cabinet sub committee set up by the Taoiseach to address the issue appears to be studiously avoiding it.
The Government's lack of interest in engaging with the issues raised by the Goldman Sachs report is not surprising. Although the bank was not mandated to come up with a recommendation, those familiar with the report say that it is not hard to read between the lines that they think it should be sold.
The bank warns that there are very serious risks - in terms of the strategic objectives of the State - associated with maintaining the status quo at Aer Lingus. It takes the view that, unless the airline has complete commercial freedom and ready access to capital, it will not be able to compete with the likes of Ryanair.
The only realistic route to fresh capital, according to Goldman Sachs, is to bring in outside investors through a public offering. The bank argues that the strategic interest of the State - direct flights to the US and London Heathrow - can be maintained through a minority Government shareholding or a golden-share arrangement. ...
The Government appears extremely reluctant to go down this path for a number of reasons, not least opposition from the company's powerful trade unions and its own back benchers. Any Government decision would have to take account of these constituencies and the widely held view that Aer Lingus has a significant public service function to fulfil. The result is unlikely to be a firm decision to privatise the airline and some sort of fudge is likely.
It appears that Mr Walsh and his colleagues have decided that they do not want to stick around under such circumstances. "They don't think it is in their interest or in the interest of Aer Lingus," according to one source.
Mr Walsh and his colleagues could hardly be blamed for not wanting to preside over the slow erosion of the gains of the past three years because the airline did not have the commercial freedom and financial independence to adapt in what Mr Walsh has called a "brutally" competitive market.
As well as being a disaster for the airline, this scenario would also see the personal capital of the men squandered. Their success at Aer Lingus has ensured that they will have little trouble finding others jobs or raising capital for a commercial venture of their own. The same might not be the case in two years time if an under-funded Aer Lingus is struggling to compete against Ryanair.
