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28/04/2009
Aer Lingus Announces Bigger Losses
The national airline, Aer Lingus has warned that its 2009 losses will be more extensive than were expected after the dramatic downturn in first quarter revenues.
The news saw shares in Aer Lingus fall by as much as 20%. Ireland's second biggest airline made a loss of almost €120m in 2008 and said it was continuing with cost-cutting measures.
Revenues in January to March slumped 16% from a year before, and passenger figures during the first quarter fell 6.5% to two million.
Aer Lingus Chairman, Colm Barrington, said the airline was struggling "against the backdrop of a severe deterioration in operating conditions", but that it was "resolute in its objective of reducing operating costs and retaining a strong capital structure".
The previous chairman, Dermot Mannion, handed in his resignation earlier this month. He said that his decision would "allow a new CEO to bring fresh thinking and new ideas to the business".
Analyst Stephen Furlong said then that it was "hard to see Aer Lingus being a standalone operation".
However, the airline rejected a hostile takeover bid in January from Irish budget airline Ryanair. Afterwards, Ryanair promised to sell over 100,000 free flights during March to further erode Aer Lingus' business.
See: Ryanair To Give Away Free Flights After Aer Lingus Losses
See: Mannion Quits Aer Lingus For 'New Ideas'
(AC/BMcC)
The news saw shares in Aer Lingus fall by as much as 20%. Ireland's second biggest airline made a loss of almost €120m in 2008 and said it was continuing with cost-cutting measures.
Revenues in January to March slumped 16% from a year before, and passenger figures during the first quarter fell 6.5% to two million.
Aer Lingus Chairman, Colm Barrington, said the airline was struggling "against the backdrop of a severe deterioration in operating conditions", but that it was "resolute in its objective of reducing operating costs and retaining a strong capital structure".
The previous chairman, Dermot Mannion, handed in his resignation earlier this month. He said that his decision would "allow a new CEO to bring fresh thinking and new ideas to the business".
Analyst Stephen Furlong said then that it was "hard to see Aer Lingus being a standalone operation".
However, the airline rejected a hostile takeover bid in January from Irish budget airline Ryanair. Afterwards, Ryanair promised to sell over 100,000 free flights during March to further erode Aer Lingus' business.
See: Ryanair To Give Away Free Flights After Aer Lingus Losses
See: Mannion Quits Aer Lingus For 'New Ideas'
(AC/BMcC)
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19 October 2007
Ryanair Hits Out As Aer Lingus Takes Flight
With Aer Lingus proceeding with its plan to close the Shannon-Heathrow route and open a new Belfast hub instead, its biggest rival (and ironically, its biggest shareholder), Ryanair is now set to provide three additional daily flights to London to ensure Shannon Airport's capacity and traffic does not fall as a result of this Aer Lingus closure.
Ryanair Hits Out As Aer Lingus Takes Flight
With Aer Lingus proceeding with its plan to close the Shannon-Heathrow route and open a new Belfast hub instead, its biggest rival (and ironically, its biggest shareholder), Ryanair is now set to provide three additional daily flights to London to ensure Shannon Airport's capacity and traffic does not fall as a result of this Aer Lingus closure.
05 November 2013
Concerns Raised Over Threatened Aer Lingus Strike
Fianna Fáil Spokesperson on Transport and Tourism, Timmy Dooley TD, has voiced his concern at the news that 91% of IMPACT cabin crew members at Aer Lingus voted in favour of industrial action.
Concerns Raised Over Threatened Aer Lingus Strike
Fianna Fáil Spokesperson on Transport and Tourism, Timmy Dooley TD, has voiced his concern at the news that 91% of IMPACT cabin crew members at Aer Lingus voted in favour of industrial action.
02 June 2009
Ryanair Flies Low
The budget airline Ryanair 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 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.
05 November 2012
Aer Arann To Suspend Services From Waterford Airport
Aer Arann, operating as Aer Lingus Regional, is to suspend its services at Waterford Airport with effect from 6 January, 2013. The routes affected will be Aer Lingus Regional services from Waterford Airport to London Southend, London Luton and Manchester. The airline will continue to operate as normal from Waterford up to 6 January, 2013.
Aer Arann To Suspend Services From Waterford Airport
Aer Arann, operating as Aer Lingus Regional, is to suspend its services at Waterford Airport with effect from 6 January, 2013. The routes affected will be Aer Lingus Regional services from Waterford Airport to London Southend, London Luton and Manchester. The airline will continue to operate as normal from Waterford up to 6 January, 2013.
17 January 2011
Arann Flies To Scotland With Aer Lingus
Aer Lingus and Aer Arann have announced plans for a new route from Shannon to Edinburgh as part of the franchise agreement between the two airlines. From 27 March, Aer Lingus Regional, operated by Aer Arann, will provide flights to Shannon from Edinburgh five days a week.
Arann Flies To Scotland With Aer Lingus
Aer Lingus and Aer Arann have announced plans for a new route from Shannon to Edinburgh as part of the franchise agreement between the two airlines. From 27 March, Aer Lingus Regional, operated by Aer Arann, will provide flights to Shannon from Edinburgh five days a week.
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