But Ryanair boss Michael O'Leary is on his own when it comes to demanding compensation from the British government for the costs of tighter security following the recent terrorist alert in UK airports.

"The last thing that debate needs is yet another Irish accent, " Mannion said, as he prepares for a trip to London this week to brief UK journalists before a prospectus is issued for the Aer Lingus IPO.

"We have a terrific relationship with the British Airport Authority and we've been able to bounce back from this recent blip."

The Aer Lingus chief reiterated his belief that the process of floating the airline was "unstoppable", despite a recent spate of bad news, including a delay in the Open Skies agreement with the US, which is considered central to the carrier's long-haul strategy, and the foiled 10 August transatlantic terror plot.

Amid all the recent drama within the industry, however, the climate of industrial peace that seems to have set in at Aer Lingus has gone almost unnoticed. Yet, following its 75-minute work stoppage last month to let off some steam, Siptu has fallen silent despite the union's continuing ideological opposition to privatisation.

Pay claims and pension worries have also been resolved, following company acceptance of Labour Court recommendations earlier this month for a 4% pay award.

All told, the controversial 250m sweetener offered to the airline's employees seems to have paid off.

"Having a stable industrial relations climate into the medium term and a resolution on pensions is a bonus in the airline industry right now, " Mannion said, a mantra that potential investors are sure to hear soon.

A prospectus containing a price range for Aer Lingus is expected to be released in the first week of September, though Mannion stressed that the final decision on a flotation price would be made "at the last possible moment".

US government sources remain keen to see Dublin Airport evolve into a transatlantic hub to rival Heathrow, leveraging Ireland's unique ability to clear passengers through US immigration, Mannion said.

That would fuel Dublin Airport expansion plans to cater for some 40 million passengers each year.

But businessman Ulick McEvaddy, who owns 150 acres adjacent to the airport, shouldn't get his hopes up for building a terminal.

"To say that owning land next to the airport means you should be able to build a terminal is tantamount to saying that owning land next to the M50 entitles you to use the motorway for a driving school, " Mannion quipped.