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Thread: Aer Lingus Swings to $64 Million 2010 Profit

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    Arrow Aer Lingus Swings to $64 Million 2010 Profit

    ATW Online: Tuesday March 1, 2011
    Aer Lingus Swings to $64 Million 2010 Profit
    Aer Lingus reported net income of €46.5 million ($64 million) for 2010, reversed from a €130.1 million deficit in 2009. The carrier attributed the turnaround to a change in business strategy at the end of 2009, when it abandoned the pure low-cost/low fares model and adopted a “value carrier” positioning (ATW Daily News, Sept. 15, 2010). This enabled it to refocus on a pricing policy prioritizing yield per ASK rather than load factor while simultaneously reducing capacity, closing loss-making routes, and launching a €97 million cost-saving program.

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    CEO Christoph Mueller pointed out that the strong improvement was achieved “despite adverse economic conditions in our core Irish market and significant operational challenges caused by volcanic ash and weather-related disruptions.” He cautioned that EI expects challenges this year as well citing rising fuel costs, higher airport charges and Ireland's weak economy. "If current fuel prices persist, we expect that 2011 operating profit will be significantly below that of 2010," he said.

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    By Cathy Buyck
    Can't understand all these profit swings. Tho't they all moaned madly about the volcanic ash last year...

    Has EI ditched Aer Lingus Commuter?
    I love this job

  2. #2

    Default Re: Aer Lingus Swings to $64 Million 2010 Profit

    They're running some Aer Arann routes now arent they? Arann's ATR's are running in and out of EDI 2-3 times a day at the moment. Always full as well.......

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