The Taoiseach Mr Ahern has paid tribute the Aer Lingus chairman Bernie Cahill, who died in a drowning accident last night.
Mr Ahern said Mr Cahill was a "hugely talented man who gave much of his life to public service".
Mr Jim Mitchell of Fine Gael said Mr Cahill was one of a group of committed Irish citizens who laid the foundations of the Celtic Tiger economy.
A post mortem is due to be carried out today on the body of Mr Cahill. He died last night in a drowning accident close to his home in Schull, west Cork.
The well-known businessman had gone to secure his speed boat which was moored there shortly before 8 p.m. His body was discovered by his wife, Kathleen, who raised the alarm.
It is understood Mr Cahill was dead when taken from the water. He had been operating a winch at his private pier to secure the boat, which had been earlier in Schull harbour. His body was brought to Cork University Hospital.
Last night, the Minister for Public Enterprise, Mrs O'Rourke, extended her "deepest and fullest sympathy" to Mr Cahill's wife and family.
A spokeswoman said: "On behalf of the Taoiseach and of the Government, Ms O'Rourke paid tribute to Mr Cahill's long and distinguished career in the public service."
Aer Lingus group chief executive Mr John O'Donovan said Mr Cahill had posessed "unparalleled business acumen" and had made an immeasurable contribution to the airline.