The departure of Aer Lingus chief executive Mr Willie Walsh and his two management colleagues is said to be imminent and could happen as early as today or tomorrow.

The three executives - Mr Walsh, chief financial officer Mr Brian Dunne and chief operations officer Mr Séamus Kearney - are coming under increasing pressure to step down. It is understood that talks have taken place between Department of Transport officials and the airline's chairman, Mr John Sharman, about the issue.

The three executives are understood to be planning their own airline project, and this has caused concern in the Department of Transport about potential conflicts of interest. Mr Walsh has firmly denied this.

A five-person transition committee is in place at the airline to handle issues about the airline's future. This committee was put in place by Mr Walsh.

When they made their original announcement in November, the three executives said they were prepared to serve until May, but this is no longer necessary.

The company's accounts for 2004 will be signed off by the end of this month.

Meanwhile, an advertisement for Mr Walsh's successor is expected to be placed in the press this Friday. There is expected to be significant interest in the post.

Most speculation centres on Mr Alan Joyce, the head of the Quantas low-fare operation, JetStar. Mr Joyce previously worked with Aer Lingus.

Another name spoken about is Mr Chris Walton, the former finance director of easyJet, who left the company a few months ago. There has been some speculation about former Ryanair director Mr Conor McCarthy taking the post, but he is believed to be interested in other projects.

Senior executives from some of Ireland's quoted companies may take an interest, but many would have to accept a sizeable pay cut, as the salary was €425,000 in 2003.