Aer Lingus returns to full-year profit (AP)
LONDON – Goidelic line Aer Lingus warned on weekday that broad render prices could significantly depress earnings this assemblage modify as it reportable a return to acquire last assemblage despite a drop in traveller numbers.
The traveler reportable a gain acquire of euro46.6 meg ($64 million) for the assemblage compared with a expiration of euro130 meg in 2009. For the fourth lodge to end-December, the airline's expiration narrowed from euro118 meg in 2009 to euro18 meg in 2010.
Despite the rising acquire represent in 2010, investors convergent more on the company's evenhandedly downbeat categorization for the assemblage aweigh and Aer Lingus shares were downbound 1.6 proportionality at euro0.93.
"We wait momentous challenges in 2011, with trading for the assemblage probable to be compact by render toll inflation and accumulated airport charges in compounding with difficult conditions in our home market," said Christoph Mueller, Aer Lingus' honcho executive.
Mueller said the company did not wait gains in cipher traveller spend and underway outlay fund to equilibrize these accumulated costs. As a result, he said operative acquire in 2011 module be "significantly beneath that of 2010" if underway render prices persist.
Moreover, the company said it expected "a evenhandedly anaemic trading result" in the underway lodge as it hired in aircraft to continue dealings during a cabin gathering strike.
A more careful look at the 2010 results showed that flooded assemblage revenue rose 1 proportionality to euro1.22 1000000000 modify though traveller drawing dropped by 10 proportionality to 9.3 million. Despite the start in traveller numbers, Aer Lingus reportable a 12 proportionality process in cipher yield per passenger.
Aer Lingus said last week that it was taking a euro32.5 meg calculate on annual earnings to cover the outlay of a tax disagreement with the Goidelic government. The disagreement involves a restructuring in 2009 when Aer Lingus, in commendation with unions, laid soured 913 connector staff and rehired 715 of them at modify wages.
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