Unions and the Department of Transport are to renew talks next week on the future of CIÉ, ahead of planned further protests by public transport workers.
The talks, to take place on Tuesday afternoon, follow an invitation from the secretary general of the Department, Ms Julie O'Neill, to unions this week.
The discussions are unlikely to avert protest actions arranged by unions for the following Tuesday, August 19th, as part of their campaign against the Minister for Transport's planned reforms.
Mr Brennan plans to dismantle CIÉ and open 25 per cent of the Dublin bus market to competition by early next year.
In her letter to the unions, Ms O'Neill acknowledged that unions and workers in CIÉ had "significant concerns" about the planned changes.
"The Minister has indicated that he wishes to address these concerns in a meaningful way in the context of the Government's overriding concern to secure value for money from public transport services through increased efficiency and better value for customers," she said.
The Department was committed to trying to address the issues and hoped the unions shared that commitment she said.
"I suggest that we meet as soon as possible to discuss how we can re-engage in a detailed and substantive manner on the proposed reform of public transport."
The initial meeting, said Ms O'Neill, should be used to draw up a format and agenda for discussions, as well as a "tentative timetable".
Mr Liam Tobin, the general secretary of the National Bus and Rail Union, said the invitation to talks had made the outlook "a little more positive".
It was not the first time that the Department had promised to engage in meaningful discussions with the unions, he said.
Negotiations begun earlier this year ran aground following an interview by Mr Brennan with The Irish Times, in which he made it clear that he intended to proceed with his reform plans.
Mr Tobin said unions were "willing to embrace change that provides a public transport service to our customers, while at the same time recognising the rights of employees".
If the Department was really willing to engage in meaningful talks, as it had promised, there "may be light at the end of the tunnel".
The next action planned by unions is to comprise a half-day stoppage and national demonstrations by CIÉ workers. It is not intended, however, that peak-time morning or evening services will be disrupted.
Full one-day stoppages are planned for September 16th, October 14th and November 18th, all Tuesdays. A two-day strike is scheduled for Monday and Tuesday, December 8th and 9th.
The Department of Transport has also been in contact with the Aer Rianta unions concerning further talks over the future of that company. Both sides agreed to a "period of reflection" after initial discussions three weeks ago. A date has not yet been set for their next meeting.