AER LINGUS HIRING IN NINE PLANES IN EFFORT TO FLY FULL SCHEDULE - Aer Lingus expects to operate its full schedule today after hiring in nine planes from other airlines - including Ryanair. As the dispute over cabin crew rosters enters its fifth day, staff who have been taken off the payroll plan to march to Aer Lingus headquarters to hand in a letter to management.
The head of human resources at Aer Lingus, Michael Grealy, says the company is doing everything it can to minimise disruption for passengers. He says the airline believes it can operate a full service today but warns that industrial action moves can be unpredictable. He says that Aer Lingus has hired in a total of nine planes for today's services, including some aircraft from Ryanair.
He says that some members of the IMPACT trade union, who are in dispute with the company, are working the new rosters and says that the new rosters are not facing rock solid opposition. 136 crew members have been taken off the payroll and 170 are refusing to work the new rosters.
The Aer Lingus executive denies that using Ryanair planes is selling out Aer Lingus employees who were against the attempted takeover, adding that using planes from other airlines when required is a normal part of business in the airline industry.
***
VALEO TO DOUBLE R&D STAFF IN TUAM - Valeo, which supplies components and systems to the auto industry, is to create up to 100 jobs over the next three years in a €17m investment backed by the IDA at its plant in Tuam, Co Galway. The company already employs 450 people in Tuam.
The head of Valeo in Ireland, Fergus Moyles, says that the company wants to double its research and development staff from 100 to 200 over the next three years. He says it may be difficult to find the right staff in Ireland, but adds that lots of different nationalities already work in the Tuam plant. The new jobs will focus on the development of the next generation of new camera/vision systems and will also support technologies for vehicle parking and manoeuvring.
***
MORNING BRIEFS - Google, one of the world's most powerful companies, is to get a new chief executive in the form of co-founder Larry Page who is now 37. He stepped down from the same post a decade ago when investors demanded a more experienced business hand at the helm. That came in the shape of Eric Schmidt who last night tweeted: 'Day-to-day adult supervision no longer needed!' The move comes against the backdrop of new competition for the $29 billion a year income company from the likes of Facebook. Schmidt will stay on as executive chairman. The announcement was made as Google reported profits of $2.2 billion in its third quarter.
*** The interest rate the country is being charged on the IMF element of our international facility stroke bail-out is set to fall. We have a €22.5 billion facility at 3.1% from the IMF. There are technical reasons underpinning this reduction as the amount Ireland is set to borrow relative to its quota is set to fall. This triggers a lower interest rate. It is part of a wider IMF review though spokesman David Hawley was not able to say by how much the interest rate would fall by.
*** On the currency markets, the euro is worth $1.3526 US cents and 84.93 pence sterling.
