In an announcement released on Friday, Ryanair confirmed that its director Sean Coyle had left its services to become the chief financial officer at Aer Lingus, one of its main rivals. Notably, Ryanair holds a 29 percent stake with Aer Lingus following a takeover bid that did not come through.

Releasing a separate statement, Aer Lingus, the former Irish State Carrier noted that Coyle, Ryanair's director of scheduled revenue, had consented to join the group on August 11.

Aer Lingus Chairman John Sharman observed, "Challenging times bring unique opportunities and we are delighted that Sean is joining us."

Coyle, 35 years now was an accountant, who worked at KPMG before joining Ryanair in the year 1998.

Ryanair Chief Executive Michael O'Leary noted, "We are pleased to see Aer Lingus recruit some decent management and hope that Sean will introduce some of the changes we have been calling for in Aer Lingus."

Last year, the European Commission blocked the bid proposed by Ryanair for Aer Lingus on grounds of competing with the airline. Subsequently, the commission also rejected a request from Aer Lingus to force Ryanair to reduce its stake.

In yet another move this year, a European court rejected an attempt by Aer Lingus to release an interim order to block what it called as 'interference by Ryanair'.

Over and above, Aer Lingus cautioned earlier this month that it would try its best even during this year to break, compelled by the slowing world economy, rising fuel costs and a strong euro.