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18/05/2009
Aer Lingus Dismisses 'Bankrupt' Claim
A senior executive at the troubled former state airline, Aer Lingus, has dismissed claims by Ryanair Chief Executive Michael O'Leary that the former flag carrier would be bankrupt within 18 months.
The airline's Chairman, Colm Barrington, (pictured) said that he expected Aer Lingus' operating loss to be bigger this year than it was in 2008, and that the company was working to improve profitability.
The news comes after the airline continued to insist that their contentious move to favour a Belfast to Heathrow route over Shannon-London - which provoked local outrage in the Republic - is still a successful project.
Ryanair has lodged formal complaints with Irish and UK financial authorities alleging Aer Lingus misled the market by presenting overly optimistic forecasts after Ryanair withdrew its takeover bid last year.
Speaking on RTÉ Radio, Mr Barrington also rejected a claim by Mr O'Leary that Aer Lingus was spending its cash reserves, which currently stand at about €600 million.
See: Low Flying Aer Lingus Still Committed To NI
(BMcC)
The airline's Chairman, Colm Barrington, (pictured) said that he expected Aer Lingus' operating loss to be bigger this year than it was in 2008, and that the company was working to improve profitability.
The news comes after the airline continued to insist that their contentious move to favour a Belfast to Heathrow route over Shannon-London - which provoked local outrage in the Republic - is still a successful project.
Ryanair has lodged formal complaints with Irish and UK financial authorities alleging Aer Lingus misled the market by presenting overly optimistic forecasts after Ryanair withdrew its takeover bid last year.
Speaking on RTÉ Radio, Mr Barrington also rejected a claim by Mr O'Leary that Aer Lingus was spending its cash reserves, which currently stand at about €600 million.
See: Low Flying Aer Lingus Still Committed To NI
(BMcC)
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