AER LINGUS BACK ON TRACK, SAYS CEO

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By TESTCustomwebLP TESTCustomwebLP November 8, 2010 09:58

AER LINGUS BACK ON TRACK, SAYS CEO

Christoph Mueller, chief executive of Aer Lingus has stated that the airline is back on track and set to post its first annual profit for three years. Forecasts have predicted the Irish airline would make pre-tax profits of €31 million for the year to December 31, 2010, which compares to a €66 million loss in 2009 before an €89 million exceptional restructuring charge related to the airline’s cost reduction programme was factored in. For 2011, analysts have predicted pre-tax profits of €74 million driven by a €35 million reduction in the cost

Christoph Mueller said announced that the airline will reach the upper end of the forecast for the full year 2010 and that it was half way to achieving saving €97 million for the year through its restructuring programme.

Aer Lingus posted an operating profit of €60.2 million for the nine months to September, which compares with a €34.4 million loss in the same period last year. Revenues were up 5.5%, despite an 11.7% reduction in capacity through cuts to its transatlantic service driven by a 12.5% increase in revenue per passenger.

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By TESTCustomwebLP TESTCustomwebLP November 8, 2010 09:58
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