The Government will take the first practical steps toward selling off Aer Lingus tomorrow when it seeks to hire financial advisers in the next four weeks to help with the sale of the airline.

Advertisements are expected to be placed in the national press seeking financial advisers to provide advice on the "size, type and timing of the sale transaction". It is expected that whoever wins this contract will probably end up helping to execute the sale as well.

The Government is committed to selling at least 51 per cent, although it is likely to retain a blocking share of 25 per cent. Conditions about the airline's brand and its landing slots at Heathrow Airport are also likely to be stitched into the sale agreement, according to sources.

Huge interest in the contract is expected from corporate finance houses, stockbroking firms and consultancy firms.

The last report on sale options for Aer Lingus was done by Goldman Sachs and the firm is likely to be a leading contender for any future contract.

However, another firm which may feature is AIB Capital Markets, which advised on the aborted floation plan for the airline in 2000/2001. Various overseas firms are also likely to be interested.

The Departments of Transport and Finance will both have a role in selecting the advisers. It is normal in such contracts for a corporate finance house and a stockbroking firm to apply together for the business.

The Goldman Sachs report made it clear that a flotation of the airline would probably take six months to complete. In the case of Aer Lingus, this could be even longer because its new chief executive Dermot Mannion is only arriving in early August.

He will be responsible for getting major work practice changes agreed with unions at the airline.