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By: - 30th September 2002 at 18:39 Permalink - Edited 1st January 1970 at 01:00
RE: Aer Lingus Makes Profit, May Seek Partner
[updated:LAST EDITED ON 30-09-02 AT 06:40 PM (GMT)]Great to see them back in profet.It wasn't easy,the airline at one time was loosing as much as UA a week and if you consider their sizes,that was a hell of a lot.Also a pilot strike and the lay off of 1000s of staff and the loss of two aircraft,couldn't of made it easy.Anyway,good news from them considering I really thought they could be another Sabena..would of been sad to see the Shamrock and one of my favourite airlines disappear.
By: - 1st October 2002 at 08:04 Permalink - Edited 1st January 1970 at 01:00
RE: Aer Lingus Makes Profit, May Seek Partner
Yup great to see them getting profits. From what i have heard there service is pretty good in the air, but not so good on the ground. I also love there c/s.
By: - 1st October 2002 at 08:16 Permalink - Edited 1st January 1970 at 01:00
RE: Aer Lingus Makes Profit, May Seek Partner
Good for them.I loooove Ireland and like the c/s too.
By: - 1st October 2002 at 08:23 Permalink - Edited 1st January 1970 at 01:00
RE: Aer Lingus Makes Profit, May Seek Partner
ya but they are not good at ground jobs .... my dad went to Ireland and the baggage of his came after 4 days. I know this can happen but otherwise also they are not known for there ground work.
By: - 1st October 2002 at 16:06 Permalink - Edited 1st January 1970 at 01:00
RE: Aer Lingus Makes Profit, May Seek Partner
On Aer Lingus you really do get a taste of the good old Irish hospitality.
By: - 11th October 2002 at 16:33 Permalink - Edited 1st January 1970 at 01:00
RE: Aer Lingus Makes Profit, May Seek Partner
Couldn't agree more. Did GLA-DUB-LAX and back again with them in June. Best Atlantic crossing I've done. Very good service, very nice people. Wish 'em all well for the future !
By: - 11th October 2002 at 19:17 Permalink - Edited 1st January 1970 at 01:00
RE: Aer Lingus Makes Profit, May Seek Partner
yea, aer lingus are doing well, would like them to join up with BMI
By: - 11th October 2002 at 23:10 Permalink - Edited 1st January 1970 at 01:00
RE: Aer Lingus Makes Profit, May Seek Partner
can't see it... EI are in oneworld, and BD are in Star...
I think EI are more likely to be involved with BA, with whom they already do comprehensive codesharing...
By: - 12th October 2002 at 07:47 Permalink - Edited 1st January 1970 at 01:00
RE: Aer Lingus Makes Profit, May Seek Partner
Its good to here they have turned the corner. i have flown with them several times including Trans-Atlantic and their staff are very nice, much more human than some other carriers. Also very nice c/s.
By: - 12th October 2002 at 11:43 Permalink - Edited 1st January 1970 at 01:00
RE: Aer Lingus Makes Profit, May Seek Partner
[updated:LAST EDITED ON 12-10-02 AT 11:44 AM (GMT)]Its sad that all Aer Lingus UK flights (except London) are converting to a low cost type operation.From now on you will have to pay for any food and drink on these routes and in business class you will have a BA style deli service.What ever happened to a free service onboard an airline?
Posts: 455
By: MapleLeaf_330 - 30th September 2002 at 18:29
This is a bit long, sorry in advance. Stephen
AER Lingus is on target to achieve one of the fastest corporate turnarounds of recent years.
The Irish Independent has learned that the state airline is on track to make a profit of €30m to €40m this year, compared to its original projection of losses of €27m.
It is understood the radical survival plan, which saw 2,000 jobs losses, combined with lower cost fares, has enabled Aer Lingus to return to the black a full year ahead of the original restructuring plan.
The board was briefed in recent days on the dramatically improved financial performance, while one government source confirmed the rapid turnaround achieved by the "slimmed-down" airline.
An Aer Lingus spokesman said he could not comment on the airline's trading performance.
The return to profitability will place the issue of privatisation firmly back on the agenda in the short term.
The airline was instructed in the immediate aftermath of September 11 by the then Minister for Public Enterprise Mary O'Rourke to find a strategic private sector partner.
Aer Lingus hired independent consultants to find interested bidders, but the board postponed the process earlier this year, because they wanted to return the company to profitability first.
Aer Lingus could be in a position to seek permission from Government to revive that process in the coming months. The difficult times in the sector internationally make it less likely that a company like British Airways would come forward and buy it. There is stronger speculation that a consortium of business people, possibly backed by a venture capital group, is more likely to want to buy some or all of the company.
The state airline's rapid return to profitability is likely to spark criticism that it projected too negative a trading picture to the Government and staff in the aftermath of September 11. In early October the situation seemed so bad that the company was due to run out of cash by February 2002.
The survival plan has cut the airline's costs by €200m per year, and a further €130m in annual cost savings is already being planned.
Profits of €30m to €40m this year assumes there are no further external shocks, such as terrorist attacks. Furthermore it doesn't take account of the impact of a possible war in Iraq.
Aer Lingus is planning to cut its business class fares in the coming weeks. The rapid turnaround in its fortunes has not only come from job losses. Aer Lingus sold two planes in the immediate aftermath of September 11. It began cutting fares late last year, but a concerted fares reduction programme has seen some tickets come down by as much as 50pc. It has reduced its capacity on transatlantic routes by 15pc.