New backer 'to invest to €2.2m into Aer Arann'

The High Court has heard a new investor will pump €2.2m into Aer Arann if it successfully exits examinership.

New backer 'to invest to €2.2m into Aer Arann'
Wed, 03 Nov, 2010 - 18:08

The High Court has heard a new investor will pump €2.2m into Aer Arann if it successfully exits examinership.

The airline, which is insolvent with debts of €29m, is fighting for its survival.

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<p>The High Court judge said this was a very serious matter and wondered if it was indicative of a Ponzi scheme.</p>

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