Aer Lingus' Operating Loss Quadruples
2010-03-10 00:47:24

DUBLIN - Operating losses atAer Lingus quadrupled in 2009
according to an unaudited trading update issued after the Irish airline
postponed publishing full results in a standoff with staff over cost-
cutting measures.

The company's board was due to meet later on Tuesday to adjust
provisions for cost-cutting measures after cabin crew opposed a plan
to reduce its annual operating costs by €97 million ($133 million) by
shedding up to a fifth of staff.

The proposed plan to stop it burning through its cash reserves had
been accepted by unions representing pilots, middle management,
maintenance staff and by some ground staff and cabin crew.
Aer Lingus, which has fended off two hostile bids by Irish rival
Ryanair, is also reeling from aviation's worst year on record and
saw its operating loss widen to €81 million from €20 million in 2008.

source: Khaleejtimes

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