Ryanair's chief executive Michael O'Leary, on Monday condemned the decision of the Government to replace what it termed "one failed (Anglo Irish) bank director, Gary McGann, as Chairman of the DAA airport monopoly, with another failed bank director, David Dilger, who has been a director of Bank of Ireland Plc since 2003." O'Leary said the appointment is totally inappropriate and confirms that the “golden circle” of failed bank directors is alive and well and still being appointed to boards of Semi-State companies by this "clueless Government." Dilger took a €13.5 million lump sum pension last year when he retired from Greencore in 2008.

Dilger, the former chief executive of food and property group Greencore, was appointed chairman of the board of Dublin Airport Authority (DAA) by Minister for Transport Noel Dempsey.

Gary McGann, CE of Smurfit Kappa, stepped down from the State-owned DAA after his resignation from the board of Anglo Irish Bank, in the aftermath of the hiding of directors’ loans to former chairman Seán FitzPatrick.

FitzPatrick was also on the Smurfit Kappa board and Minister for Finance Brain Lenihan, promised last March, to end such practices, which he acknowledged were examples of "crony capitalism."

Dilger, who is 52, retired from Greencore in April 2008.

Ryanair said it believes that none of the small “golden circle” of failed bank directors are appropriate or acceptable to tax payers as directors of Semi-State companies having presided over euro billions of bad debts in the Irish banks which has necessitated them being bailed out twice in recent months, firstly by a Government guarantee of their deposits and then by a Government recapitalisation program which has wiped out the investments and savings of many thousands of small bank shareholders and pension funds.

Ryanair’s Michael O’Leary said: “It is simply unbelievable that one failed banker Gary McGann was forced to resign as Chairman of the DAA airport monopoly following his failure as a Director of Anglo Irish Bank, only for this Government to replace him with another failed banker, David Dilger, who has also been a director of Bank of Ireland Plc since 2003. This appointment shows utter contempt by this Government for the many thousands of small shareholders and pensioners who have had their life savings ruined by these failed bankers over the last 12 months.

“The fact that Mr Dilger was a participant in the near bankrupting of Bank of Ireland necessitating its bail out by the Government makes him one of the golden circle of “Banksters” who should be unfit to be Chairman of a semi-state company, even one as badly run as the DAA airport monopoly.

“Minister for Transport, Noel Dempsey should now explain why he is appointing Mr Dilger as Chairman to the DAA airport monopoly. What skills does he have other than being one of the golden circle of failed bankers? Perhaps Mr Dempsey also asked Sean Fitzpatrick or Michael Fingleton if they were available or fancied this semi-state plum? This appointment is an abuse of Irish taxpayers.

“It is not appropriate or acceptable to Irish taxpayers that this small “golden circle” of failed bank directors is being appointed to Chair Semi-State monopolies by Noel Dempsey”.

Finfacts Comment: Like him or loathe him, Michael O'Leary is the only Irish senior businessperson, who is prepared to call a spade a spade. The consequences of crony capitalism, will be seen for years to come and wasn't it the same Minister for Transport Noel Dempsey, the former schoolteacher, who has sat in Cabinet since 1997, who told Fianna Fáil party members, some months ago, that a small number of "money manipulators" had endangered Ireland’s economic survival?

"There’s no parallel in history for the damage they have done to this nation — except perhaps Cromwell," he said.

He should of course, have a look in the mirror!!

SEE: Irish Economy: Economic traitor cries treason; Slow-motion Government hits panic button