Airline Aer Lingus In Losses Freefall

Airline Aer Lingus In Losses Freefall

Ireland’s second biggest airline, Aer Lingus lost almost £100m last year.

The airline has experienced a sharp decline in passenger numbers this year

The airline recorded a loss after tax of £99m and an operating loss of £16.16m.

It said it expects losses will increase in 2009 as passenger fares and cargo revenues fall.

“Passengers are increasingly booking later and lower fares are necessary to ensure load factors remain stable”, the airline said.

“In order to maintain volumes, it is now expected that in 2009 average fares will decline by a minimum of 10% as compared to 2008”.

Aer Lingus added it believes in 2009 they “will experience a larger operating loss than in 2008 and that in these circumstances the group is unlikely to meet its previous guidance of a pre-tax profit in 2009”.

The airline has survived two hositle bids by Irish rival Ryanair since 2006.

http://news.sky.com/skynews/Home/Business/Aer-Lingus-Results-Irish-Airline-Has-Made-A-Loss-Of-99m-In-2008/Article/200903215238880?lpos=Business_Top_Stories_Header_3&lid=ARTICLE_15238880_Aer_Lingus_Results%3A_Irish_Airline_Has_Made_A_Loss_Of_%3F99m_In_2008

Rick