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24/08/2010
Aer Lingus Set To Soar As Losses Cut
The Irish airline, Aer Lingus, is hoping to be a real high-flyer by the end of this financial year.
The State-owned carrier which has been successfully operating a 'hub' from Belfast International has dramatically reduced its losses in the first half of the year.
Company accounts reveal that the airline, which is in the middle of a cost-cutting programme, suffered €19m (£15.5 million) losses for the six months to the end of June but, is predicting it will break even by the end of the year.
Christoph Mueller - the Chief Executive - said the improvements were significant despite difficulties caused by the Icelandic volcanic ash crisis and sluggish markets.
"Despite the group's strong commercial performance, Aer Lingus has not been complacent in addressing its cost position," he said.
"The group remains committed to implementing all aspects of the Greenfield Cost Reduction Programme in order to position Aer Lingus for a successful future."
Mr Mueller added: "For the 2010 full year, we expect to report an operating performance (before exceptional items) of no worse than break-even.
Aer Lingus carried 4.4 million passengers in the first half of the year, half a million fewer than the same time last year, but managed to reduce losses by 80% from 93 million euro (£75.9 million) in January to June 2009 to 19 million euro this year.
(BMcC/GK)
The State-owned carrier which has been successfully operating a 'hub' from Belfast International has dramatically reduced its losses in the first half of the year.
Company accounts reveal that the airline, which is in the middle of a cost-cutting programme, suffered €19m (£15.5 million) losses for the six months to the end of June but, is predicting it will break even by the end of the year.
Christoph Mueller - the Chief Executive - said the improvements were significant despite difficulties caused by the Icelandic volcanic ash crisis and sluggish markets.
"Despite the group's strong commercial performance, Aer Lingus has not been complacent in addressing its cost position," he said.
"The group remains committed to implementing all aspects of the Greenfield Cost Reduction Programme in order to position Aer Lingus for a successful future."
Mr Mueller added: "For the 2010 full year, we expect to report an operating performance (before exceptional items) of no worse than break-even.
Aer Lingus carried 4.4 million passengers in the first half of the year, half a million fewer than the same time last year, but managed to reduce losses by 80% from 93 million euro (£75.9 million) in January to June 2009 to 19 million euro this year.
(BMcC/GK)
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The budget airline Ryanair - which flies from two bases in Northern Ireland - has revealed financial returns showing a major nosedive in operating profits. Ryanair plunged into the red by €169.2 million (£145.9m) in the year to March after being hit with a 59% hike in its fuel bill.
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Ryanair Hits Out As Aer Lingus Takes Flight
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Ryanair Hits Out As Aer Lingus Takes Flight
The latest news on the controversal Aer Lingus move to a Belfast operation - closing the Shannon-Heathrow route - is that its biggest rival (and ironically, its biggest shareholder), Ryanair is to provide three additional daily flights to London from Shannon Airport to ensure capacity and traffic does not fall as a result of the closure.
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Aer Lingus 'Committed To Belfast Hub'
The Irish airline, Aer Lingus, has said that net losses narrowed in the first half of the year and that it was on course for an annual profit. It has reported operating losses of €27.8m, or £24.6m, in the first half of 2011 but had a strong second quarter, taking profits of €25.9m. The airline said passenger numbers also rose by 8.
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Examiner Appointed To Aer Arann
The Dublin High Court has appointed an examiner for troubled airline, Aer Arann. The airline said it intends to operate normally during the period of examinership and intends to fly all Aer Arann services and all Aer Lingus Regional services operated under franchise agreement with Aer Lingus.
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Aer Lingus Hits Turbulent Times
The Irish state-sponsored airline Aer Lingus has reported large losses due to the downturn in global travel.
Aer Lingus Hits Turbulent Times
The Irish state-sponsored airline Aer Lingus has reported large losses due to the downturn in global travel.
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