Aer Lingus cuts half-year losses by 80%
Aer Lingus has managed to dramatically reduce its losses in the first half of the year.
The airline posted an operating loss of €19 million in the six months to the end of June, an 80% reduction on the operating loss in the first half of 2009.
Aer Lingus, which has resisted two takeover bids from Ryanair Holdings, predicted it will break even by the end of the year.
Chief executive Christoph Mueller said the improvements were significant in light of the Icelandic volcanic ash crisis and difficult 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.
“For the 2010 full year, we expect to report an operating performance (before exceptional items) of no worse than break-even.
“This would represent a good performance in difficult market conditions but is predicated on the delivery of committed staff productivity savings and no further significant disruptions to operations from industrial action or airspace closures.”
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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