The British air carrier, AB Airlines, which operates a route out of Shannon, has been placed in administrative receivership and is in negotiation with a number of companies including Virgin Airlines.

A spokesman for the receivers said Mr Peter Copp and Mr Geoff Kinlan, of BDO Stoy Hayward, who are acting as joint administrators, were "very confident" that new owners could be found for the Stansted-based airline. The spokesman also insisted the company's difficulties were in no way related to the arrival at Shannon of the rival carrier, Virgin.