Airline shares take off on Mannion’s departure

AER Lingus shares jumped 7% yesterday after its chief executive Dermot Mannion resigned and Ryanair called for the airline to appoint union chief David Begg as chief executive.

Mr Mannion was due to announce his resignation today but the airline brought the announcement forward following media speculation at the weekend.

It has appointed an international recruitment firm to appoint Mr Mannion’s successor. No time-line has been put in place for the recruitment process, according to an Aer Lingus spokesman.