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Aer Lingus reports higher revenues in first four months, forecasts first half loss

16-May-2008
Airline Code [EIN]  View More Aer Lingus News   
Aer Lingus reports higher revenues in first four months, forecasts first half loss

Tags :Continental Europe, Aer Lingus

(XFN Asia) Aer Lingus Group Plc announced higher revenues and passenger numbers in the first four months of 2008, but forecast first half operating losses due to soaring oil prices, a slowing global economy and the weakness of the US dollar and sterling. Aer Lingus stated total revenues increased by 10.3% during the first four months of 2008 compared to the same period in 2007.

 

Total passenger numbers increased by 11.1% year-on-year to 3.2 million. This comprised an 11% increase in passengers on short-haul and a 9.4% increase on long-haul.

The Irish flag carrier stated the airline industry is now facing unprecedented record fuel costs, with the spot price of jet fuel rising by about $180 per tonne, or 16%, since 12-March-08, when the group said it had hedged 36% of its fuel requirements for the remaining ten months of 2008.

It said the economic outlook in its main markets remained uncertain due to a slowing global economy, the record price of fuel and the current weakness of the US dollar and sterling, as well as increased competition.

Date posted: 16-May-08
 

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