The future of the management team at Aer Lingus was tonight in the hands of the airline's board and chairman.
The Minister for Transport, Mr Cullen confirmed that talks were ongoing to ensure there was no conflict of interest over the trio's plans for a low-cost rival to the State carrier and their position in the company.
It is understood chief executive, Mr Willie Walsh, operations officer, Mr Seamus Kearney and financial officer, Mr Brian Dunne, plan to leave the airline in May and set up a new budget service based in Dublin.
Minister for Transport, Mr Cullen
"A conflict of interest cannot, should not and will not be allowed to arise between their current roles at Aer Lingus and their future career intentions," Mr Cullen said.
"Within that clear context, decisions relating to their continuing roles at the company are a matter for the Chairman and the Board of Aer Lingus.
"My primary focus in all this is to ensure that Aer Lingus has a sustainable future in the interests of its staff and customers."
The trio's idea for a low fares carrier could see cheap transatlantic flights competing with Aer Lingus while services to Europe and around Ireland would directly rival the likes of Ryanair.
They have been praised for turning the company around in the last 18 months and lined up ambitious targets for the coming year.
Returns for 2004 are expected to reveal operating profits of more than €100 million, after losses of around €152 million in 2002.
Opposition parties warned that a low-cost rival to Aer Lingus could destroy the flag carrier and calls have been made for the future ownership of the airline to be addressed.
Ms Olivia Mitchell, Fine Gael transport spokeswoman, said while the public would warm to the prospect of cheap flights to North America it was bad news for the country's flag carrier.
"A new threat from a dynamic young low cost airline is the last thing the now leaderless Aer Lingus needs," Ms Mitchell said. "It is particularly vulnerable to low cost competition on the transatlantic routes and the loss of this business would destroy the State airline."
Labour's transport spokeswoman, Ms Roisin Shortall, said it was time the Government addressed the future ownership and funding of Aer Lingus.
"This stagnation will contribute further to the rudderless drift in our State airline," Ms Shortall said.
"While Willie Walsh and his colleagues are preparing for life after Aer Lingus, it is clear that the Government are making no preparations for Aer Lingus after Willie Walsh."
It is understood the new operation will have significant Irish and overseas backing and could be up and running by next January.
But a Cabinet decision on whether to allow Aer Lingus to accept private investment has been delayed until the end of the month.
The Dublin Airport Authority believe there is room for more airlines to serve the city and passenger numbers are expected to grow by 8% on average over the next five years.
PA