The Taoiseach has told the Dáil he will not be pressurised into making a decision on the future of the national airline, Aer Lingus.
Bertie Ahern
Yesterday the company's three top executives quit because they sensed increasing Government "unease" at the pace and direction of their plans for the airline. Chief executive, Mr Willie Walsh, will leave the company next May, along with the airline's chief operations officer, Mr Séamus Kearney, and its chief financial officer, Mr Brian Dunne.
The trio are widely credited with turning the company's losses around from €140 million debt three years ago to a profit of €95 million last year.
They are understood to have formed the opinion that Mr Ahern had no appetite to sell off part of the airline. A Government spokeswoman said last night a decision would be made by Christmas on the airline's future.
During questions in the Dáil this morning, Mr Ahern said the Government was trying to "make the necessary decision, to take the right decision."
"It's a big decision for the staff, the management, the board and the country to have a national airline. I'm not just going to click my fingers because some right-wing economists believes we should privatise," Mr Ahern said.
"We're an island nation heavily dependent on trade overseas invest and tourism. There are very important strategic issues which have to be satisfactorily resolved," he added.
He said trust between Aer Lingus unions and management was "non-existent".
"The reason the workers are so concerned...is that they felt that the very people they were dealing with as management wanted to sell out to make themselves very rich," the Taoiseach added.
Speaking later, Mr Walsh said that the accusation "could not be further from the truth" and that Mr Ahern had "his own agenda".
Labour Party leader, Mr Pat Rabbitte said as the Taoiseach "seeks to reposition Fianna Fáil, the national airline is left leaderless in circumstances where the management...sought a clear indication from Government as to the way forward and what they got were mixed signals in response."
He told the House the "prospect of finding a quality person to lead the company now is virtually nil."
"As the Taoiseach seeks to reposition Fianna Fail and jettison the PDs there is no answer coming from Government as to what is the future of the national airline.
"We don't want a second Ryanair," Mr Rabbitte said.
"Minister Brennan wanted to privatise and negotiate with the unions through the public press. He was changed because of the June elections by the Taoiseach and the new minister [Mr Cullen] given the opposite riding instructions," he added.
Speaking on radio this morning, Mr Cullen said the "least likely option" was state investment.
"If it were not to be a state investment ... then clearly there's got to be options in terms of elsewhere and elsewhere is out in the market," the minister told RTE.
The minister's sentiments were welcomed by the Progressive Democrats who have called for a full privatisation of Aer Lingus.
"I welcome what the minister has just said, that he believes that equity can come from the private sector," PD Senator Tom Morrissey said.
"What I regret is that we are waiting so long, because in a volatile, cyclical industry that has returned to crisis, what you cannot have is indecision."
Mr Cullen added that it was his intention to secure a new Chief Executive as soon as possible and to make a swift decision on funding. "I want to get a new chief executive in place as quickly as possible. I fully appreciate that to get the right chief executive we need clarity immediately to do that."
"That's as straightforward as I can put it to you and obviously that is a matter of over the next couple of weeks, few weeks, as quickly as we can."
The minister could not say whether these steps could be taken before Christmas.
Mr Cullen is due to meet the acting chairman, Mr John Sharman, tomorrow to discuss a successor to Mr Walsh and plans to restore stability.