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27/08/2009
Aer Lingus Reports Big Losses
The state-sponsored airline Aer Lingus has reported large losses due to the downturn in global travel.
The part-government owned carrier said it had experienced a big increase in losses for the first half of the year as it was forced to cut fares during the downturn.
The company's first half results, published today, revealed an operating loss of €93 million in the six months to the end of June, during what it described as "challenging market conditions".
A spokesman for the carrier said: "Trading conditions continue to be very challenging across the airline industry.
"There has been a structural change in fares and in demand for our long haul business class product in particular.
"Aer Lingus expects that the continuation of the current market trends in Ireland and its other key markets will lead to further sustained and significant fare pressure."
The collapse in air fare prices have left a major mark on Aer Lingus bottom line, as the document also reports an actual rise in the number of flyers, despite its huge losses.
Air fares have fallen by 17% on average, while increasing fuel costs have compounded the companies financial woes.
The spokesman added that Aer Lingus expected the current market trends in Ireland would lead to further sustained and significant fare pressure.
"This dynamic and very challenging environment contributes to a highly uncertain outlook," he said.
Meanwhile, Aer Lingus' indigenous competitor Ryanair is keeping up the pressure with the announcement of a €5 seat sale.
The €5 fares are available on over 500 of Ryanair's European routes but must be booked on www.ryanair.com before midnight tonight.
However, customers will need to avoid discretionary fees by paying with Visa Electron, travel with carry-on luggage only and forego priority boarding in order to fly for the advertised €5 fare.
(DW/BMcc)
The part-government owned carrier said it had experienced a big increase in losses for the first half of the year as it was forced to cut fares during the downturn.
The company's first half results, published today, revealed an operating loss of €93 million in the six months to the end of June, during what it described as "challenging market conditions".
A spokesman for the carrier said: "Trading conditions continue to be very challenging across the airline industry.
"There has been a structural change in fares and in demand for our long haul business class product in particular.
"Aer Lingus expects that the continuation of the current market trends in Ireland and its other key markets will lead to further sustained and significant fare pressure."
The collapse in air fare prices have left a major mark on Aer Lingus bottom line, as the document also reports an actual rise in the number of flyers, despite its huge losses.
Air fares have fallen by 17% on average, while increasing fuel costs have compounded the companies financial woes.
The spokesman added that Aer Lingus expected the current market trends in Ireland would lead to further sustained and significant fare pressure.
"This dynamic and very challenging environment contributes to a highly uncertain outlook," he said.
Meanwhile, Aer Lingus' indigenous competitor Ryanair is keeping up the pressure with the announcement of a €5 seat sale.
The €5 fares are available on over 500 of Ryanair's European routes but must be booked on www.ryanair.com before midnight tonight.
However, customers will need to avoid discretionary fees by paying with Visa Electron, travel with carry-on luggage only and forego priority boarding in order to fly for the advertised €5 fare.
(DW/BMcc)
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31 August 2010
Examiner Appointed To Aer Arann
The High Court has appointed an Examiner for troubled airline, Aer Arann. Aer Arann 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 the airline’s franchise agreement with Aer Lingus.
Examiner Appointed To Aer Arann
The High Court has appointed an Examiner for troubled airline, Aer Arann. Aer Arann 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 the airline’s franchise agreement with Aer Lingus.
17 December 2008
Revamped Ryanair Offer Shot-Down
Aer Lingus has rejected the Ryanair offer despite a revised bid from the budget airline yesterday. The rejection comes in spite of two major changes to the initial hostile takeover offer, with the Aer Lingus Chairman Colm Barrington dismissing the offer as "nothing new".
Revamped Ryanair Offer Shot-Down
Aer Lingus has rejected the Ryanair offer despite a revised bid from the budget airline yesterday. The rejection comes in spite of two major changes to the initial hostile takeover offer, with the Aer Lingus Chairman Colm Barrington dismissing the offer as "nothing new".
02 June 2009
Ryanair Flies Low
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.
Ryanair Flies Low
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.
01 December 2008
Ryanair Flies Into Takeover Turbulence
There's a multi-million euro bid for Aer Lingus on the table today as budget airline Ryanair makes a fresh takeover offer. The all-cash offer would value Aer Lingus at €748m euros (£619m) a lot less than the previous offer for Aer Lingus, which valued it at €1.5 billion.
Ryanair Flies Into Takeover Turbulence
There's a multi-million euro bid for Aer Lingus on the table today as budget airline Ryanair makes a fresh takeover offer. The all-cash offer would value Aer Lingus at €748m euros (£619m) a lot less than the previous offer for Aer Lingus, which valued it at €1.5 billion.
02 September 2011
Irish Airline 'Committed To Belfast Hub'
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 - and it is staying in Belfast. 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.
Irish Airline 'Committed To Belfast Hub'
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 - and it is staying in Belfast. 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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