Court told investor found to ensure Aer Arann’s survival

AN investor had been secured to ensure Aer Arann’s survival as a going concern, the High Court was told yesterday.

And the High Court extended until Friday week its protection for Aer Arann after a judge was told that the new investor was coming on board.

Interim examiner, Michael McAteer, was appointed last August to the company, which employs 320 people, after the court heard it could not pay its debts due to a number of factors, including the global economic downturn and flight disruption from the volcanic ash cloud problem earlier this year.